essay on role of money in life

Why Money Is Important And The Role It Plays in Our Lives

By Todd Kunsman

Financial Independence

Published on May-17-2021

Updated on Apr-11-2022

At some point, you may wonder why money is important and start to analyze the role it plays in your own life. 

And our society has plenty of different viewpoints when it comes to money and happiness, how much money is truly enough, and how to better with money. 

I’m sure you have heard many of the different sayings about money too, whether funny or to hit a particular point to make you think. 

You know the ones, like: 

• “Money doesn’t buy happiness.” – Proverb
• “Money is the root of all evil.” – 1 Timothy 6:10
• “Having money isn’t everything, not having it is.”  – Kanye West

But you’ve probably heard many proverbs, famous quotes, or other sayings from people around you. And while there may be some truth to not let money dictate your entire life and choices, money IS important.

Why Is Money So Important?

The reason money is so important is that it provides options for you to live a better life that you choose and puts you in control. Having money and being comfortable with finances also gives you freedom and options to decide how you want to live and support the things you care most about in your life. 

And yes, it’s true that money cannot necessarily buy you complete happiness forever and greed can make people do terrible things. Look what the hunger for more wealth and money did to Bernie Madoff and how he ruined the many families who invested with him. 

But while there is truth to some of the negative connotations to money, ultimately you have the strength to dictate how you use money and if you let it control you. 

Money is not everything in this world, but it can be powerful in helping you achieve your goals and let you make the best of the short life we all have. 

The Real Benefits of Money

While your whole life does not need to focus on money and accumulating wealth , it is still important to dedicate your time to understanding it and building a strategy.  

Look, we all know that more money means you can generally afford a fancier lifestyle, bigger homes, better vacations, and flashier cars. But those material items are not the real benefits of having money and the temporary excitement from those items quickly wanes.

So why is money important? 

Money Gives Your Freedom

Money is important because it gives you the freedom to do what you want, when you want, where you want. Sometimes we call this “ FU Money ,” which means you reach a point where you can just walk away from a job you hate and are not reliant on anyone’s financial support. 

Do you have hobbies you want to pursue? A dream to start your own business? Money gives you the freedom to explore those areas and take a bit of risk. 

Money Gives You Options  

Being able to make choices and have options is one of the best feelings in the world. Knowing you are stuck in a particular situation because you need the money or financial help is frustrating, so removing that from your life is a great relief.  

When you have money, you control what you want or don’t want to do. Want to have a different career? Want to move to a different state or country? Want to travel somewhere new for vacation? Do it. 

Money Creates Financial Security  

One of the most powerful feelings you can have is knowing you do not need to worry about money.  Financial stress is a common problem among people and families, which can lift a huge burden. 

Whether you lose your job or some economical turmoil happens, you aren’t worried about paying bills, paying to see a doctor for medical reasons, or wondering where your next meal will come from.

Having money and having a financial plan creates more security for you and your family. 

Money Can Create More Life Experiences

Life is short and goes by fast, which means you should want to experience the best things life has to offer while you are here. 

Hoarding money and never experiencing anything is a waste, afterall you can’t take the money with you to the grave! While that might not paint a pretty picture, it’s completely true. 

When you have money, it creates opportunities for you to get more out of life, travel the world, try new things, and get out of your own bubble of where you live. This can also help drive more happiness overall as you are experiencing more that life has to offer. 

Money Helps You Give Your Family More

While generational wealth can be a good thing, there is a fine line of instilling in your children good values and work ethic beyond just handing money over to them. 

But money matters because you can provide your family with better education opportunities, better healthcare, and a better start in life overall. 

There are plenty of children that become spoiled and it creates unrealistic expectations of money while growing up. But that’s where teaching them about money and not giving them every little luxury without hard work will be key. 

Money Lets You Give Back

At some point, you may reach a level of income or financial freedom where you can afford to give back. Helping out charities, your local community, or other causes is a great feeling and it can create happiness when you are helping others.

Yes, there are also some tax incentives when you donate to charities, but hopefully, that would not be your main driver to give back. 

Those are some of the main reasons money is important and should be things you think about in your own pursuit of financial independence. But I’m sure there are other reasons money might be important to you as well. 

The Negative Side of Money

While there are plenty of benefits to having money, there are negatives to it as well. Focusing your energy on making money, saving, and investing is important but it’s a careful balance to not let it consume every little decision you make. 

Obsessing Over Money Causes Problems 

While we may all strive for money or financial peace, obsessing over money and making money can really cause problems in your life.

When you focus all your time on money and trying to acquire more of it, you can end up destroying your relationships with family and friends. It can also lead you down a path of unethical behavior (see once again, Bernie Madoff) or criminal activities just to get more money.

Having an obsession with money is a destructive disorder that can ruin your life and others. Sure, you may have all the money in the world, but if you trampled over everyone, who is going to be next to you enjoying life? No one or not anyone that you would trust to genuinely care about you and not your wealth.

Making Money Can Cause More Stress 

Not only can money help reduce financial stress, but it can also cause more unwanted stress too. Funny how that works, ain’t it?

For those where money is never enough, no matter how much they have — it actually can create more stress.

You find yourself working crazy hours every week, spending every waking moment thinking about money, and even getting anxious over your efforts for more. That stress not only takes a toll on your mental and physical health but affects those around your like family and co-workers.

Can Create More Family Disagreements 

In a MarketWatch article , they mentioned that TD Ameritrade found that 41% of divorced Gen Xers and 29% of Boomers say they ended their marriage due to disagreements about money.

While these numbers are just a few years old, money continues to be a common cause for disagreements and arguments among spouses and families.

If you are not on the same page with your spouse or family, money will certainly be a common friction point. And you certainly won’t be in agreement ALL the time, but having similar values and thoughts about money can limit the disagreements.

How Much Money Is Enough?  

As you can see from above, there is nothing wrong with the pursuit of financial independence and money. But there can be downsides as well.

The issue begins when you let greed consume you and find yourself doing whatever it takes to make more money. This is when you start to hurt people, alienate friends and family, and end up in a self-destructive path. 

The question you have to truly ask yourself is how much money is enough? 

For many looking to pursue financial freedom , that number of how much is enough comes to 25x of yearly expenses. So say your expenses are $30,000 per year, you’d ideally want to have $750,000 saved and invested. 

This is the best baseline when evaluating why money is important to you and how much should be enough. It’s a good goal and amount where you can live happily and be comfortable in life. 

For some people, that 25x goal seems like more than enough, not everyone needs to be like Warren Buffett or the next Jeff Bezos. And for others, they would never be satisfied with that amount.

Happiness fades after a certain amount 

It’s a great idea to have a budget, financial goals, and maybe a net worth number you are striving to achieve. That’s never a bad thing! 

But often it’s easy to get into a whirlwind of bad spending habits or needing more and more, never being satisfied with what you have. 

In a fascinating research topic, High income improves evaluation of life but not emotional well-being by Daniel Kahneman and Angus Deaton, the authors explore the impact of money on your overall well-being. 

Essentially, the key findings from their research were that money can keep increasing satisfaction up to any amount, but money only has an affect on your overall happiness up to an annual income of $75,000. 

While the research goes much more in-depth and is from 2010, something to keep in mind as you pursue money and think about your finances. 

Final Thoughts

Health and family are some of the most important things in life. If you have those two things, then you are living a pretty rich life. But there is no denying the importance of money and that it can create better life opportunities.

Naturally, money won’t solve all your problems and if you were an unhappy person prior to money, then gaining some wealth may only be a temporary solution. 

The real opportunity is to find the right balance where you see money as important, but a tool that can help you create better life experiences and opportunities.

Essays About Money: Top 5 Examples and 6 Prompts

With money comes great power; however, power must always come with responsibility. Discover thought-provoking essays about money in our guide.

Money is everywhere. We use it to eat, drink, clothe ourselves, and get shelter, among many other uses. Nowadays, it is an undisputed fact that “money makes the world go round.” The earliest known form of money dates back to around 5,000 years ago ; trade was previously carried out using a barter system. However, over the centuries, more and more nations began implementing a currency system, and money has become more critical. 

In the contemporary world, it seems to be “all about money.” However, it is important not to lose sight of what is important; we must maintain good physical and mental health and healthy relationships with the people around us. Money is necessary; it is just not the only thing necessary. To start your essay, read these examples to write insightful essays about money. 

5 Top Examples On Essay About Money

1. essay on money by prasanna, 2. how money changed human history by jacob wilkins, 3. capitalism: money that make money by ernestine montgomery, 4.  is money the most important thing by seth higgins.

• 5. ​​An Introduction to Saving Money by Jeremy Vohwinkle

Writing Prompts For Essays About Money

1. good uses for money, 2. the “dark side” of money, 3. money’s role in history, 4. morality vs. money, 5. can money buy happiness, 6. how to save money.

“Imagine the world without money. We will eventually come to a point where we will be asking questions like “what’s the point of life”. Hope and goals are some of the important things that will keep a man going in life. Without any sense of achievement or motivation, there wouldn’t be any inventions or progress in the world. People work to get money and then people work harder to get more money. This cycle of life that keeps a man motivated and hopeful is one of the biggest advantages of the system of money”

This essay gives readers a general outlook on money and its advantages and disadvantages. It gives people equal opportunity to work for their dreams and motivates them to be productive members of society, while it also raises the question of greed. Money, without a doubt, has its positive and negative aspects, but it exists and is only becoming more critical.

“But the barter economy was flawed. There was no universal measure for determining the value of an item. It was all based on the subjective opinion of the individuals involved. And to make matters worse, the barter economy relied on both sides wanting something the other had to offer. Trade, therefore, could be sluggish and frustrating. Human beings needed something different, and money was the answer.”

Wilkins writes about how money revolutionized the way trade was conducted. The barter system involved trading any objects if both parties agreed to a deal, such as trading animal skins for fish or medicine for timber. However, the only measure of an item’s value was how much one party wanted it- both sides needed to have something the other wanted. The introduction of money allowed people to put a solid value on commodities, making trade easier.  

“So, if you were to closely observe the dirty, disordered canvas of economic progress during the 20th and 21 st century, you should conclude that, for all its warts, capitalism has been the winner. It has sometimes caused pain; suffered from serious cycles; and often needed the clout of the state- such as we have seen from September 2008. It has also been quite resistant to sensible regulation. Even so, the basic institutions of capitalism have worked, not just in the US and the OECD (Organization for Economic Co-operation and development) nations, but also many developing countries, of which India is one.”

Albeit lengthy, Montgomery’s essay discusses the debate between socialism and capitalism, a topic of which money is at the core. Montgomery describes Karl Marx’s criticism of capitalism: all the money goes to a few people, not the workers. She believes these are valid to an extent and criticizes certain forms of capitalism and socialism. Neither capitalism nor socialism is perfect, but according to Montgomery, capitalism creates a better economy. 

“Being the richest man in the world does not mean you are the happiest man in the world, although money can buy you happiness sometimes, but not always. If we could all appreciate the way life is, the fun, and the beauty I think the world would be better. If people weren’t power hungry maybe we’d have a lesser demand for money. Those people who is money hungry and power hungry need to relax. Money can’t buy you happiness. These individuals need to understand that.”

Higgins implores readers to remember that money is not the only thing people need in the world. He stresses the necessity of money, as it is used to pay for various necessary goods and services; however, he believes it is not a prerequisite for happiness. Material things are temporary, and there are other things we should focus on, like family and friends. 

5. ​​ An Introduction to Saving Money by Jeremy Vohwinkle

“A financial emergency may take the form of a job loss, significant medical or dental expense, unexpected home or auto repairs, a hurricane or major storm, or something unthinkable, such as a global pandemic. The last thing you want to do is to rely on credit cards with their hefty interest fees or to be forced to take out a loan. That’s where your emergency fund can come in handy. Historically, the formula for an emergency account is to have enough readily available cash to cover three to six months of living expenses.“

Vohwinkle’s essay gives readers some suggestions on how to save more money. Most importantly, he suggests setting up an emergency fund, as all other saving techniques stem from there. He also suggests creating an automatic savings plan and cutting down on “spending leaks,” like buying coffee. You might also be interested in these essays about celebration .

In this essay, write about why money is necessary and the ways to use it for the greater good, and include ways in which it can be used (investing, donating, etc.). For each point, you make, be sure to explain why. Of course, this is entirely subjective; feel free to write about what you consider “good uses” for money. 

On the other hand, money also has a negative side —research on money-related issues, such as taxpayer-funded corruption and trading of illegal goods. In your essay, explore this side of money and perhaps give solutions on how to stop these problems. 

Money has played a progressively more important role throughout human history. Discuss the development of currency and the economy, from the barter system to the digital world we live in today. You need not go too in-depth, as there is a lot of ground to cover and many eras to research. Be sure to cite reputable sources when discussing history. 

Many people warn of “selling your soul” for financial gain. In your essay, you can write about the importance of having solid values in this day and age, where money reigns supreme. What principles do you need to keep in mind? Explain how you can still value money while staying grounded; mention the balance between material needs and others. 

As stated in Higgins’ essay, more people have begun to prioritize money over all else. Do you believe that money is truly the most important thing? Can it alone make you happy? Discuss both sides of this question and choose your position accordingly. Be sure to provide precise supporting details for a stronger argument. 

Enumerate tips on how you can save money. Anything works, from saving certain things for special occasions to buying more food in the grocery rather than eating out. This is your opinion; however, feel free to consult online sources and the people around you for extra advice. 

For help with your essays, check out our round-up of the best essay checkers .If you’re still stuck, check out our general resource of essay writing topics .

Martin is an avid writer specializing in editing and proofreading. He also enjoys literary analysis and writing about food and travel.

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Importance of Money Essay - 100, 200, 500 Words

Money is a commodity accepted by general consent as a medium of economic exchange. It is the principal measure of wealth. It is any good that is widely used and accepted in transactions. Human life will have a lot of changes with the presence and absence of money. Money has become the most vital part of life.

100 Words Essay On Importance Of Money

Money is a critical factor in our lives as it helps us to meet our basic needs and desires. It provides us with a sense of security and helps us to plan for the future. Money enables us to buy food, shelter, and clothing, and to access healthcare and education. Additionally, it provides us with the means to enjoy leisure activities and to travel. Money is also important in terms of personal and professional development, as it allows individuals to invest in themselves and their careers. Furthermore, money plays a crucial role in the economy, as it is used for transactions and for saving and investing.

200 Word Essay On Importance Of Money

The status of a person in society is impacted by how much money they have. We all desire financial success either b y working hard or succeeding in business. However, only a few people seize the opportunity to realise their dream of becoming a millionaire. Money also provides a measure of economic stability, as it allows for the management of inflation and the allocation of resources. On a personal level, money helps to meet basic needs and provide a sense of security, allowing individuals to plan for the future and pursue their goals and aspirations.

Everyone needs money, no matter how wealthy they are. Knowing the value of money in our lives helps us to avoid wasting or squandering it for any reason. The only reason for all the changes and variations in life is money. From the moment we begin till the moment we go to sleep, everything that happens in between requires the use of money. However, it is important to remember that money is not everything, and that true happiness and fulfillment come from other sources such as relationships, personal growth, and contributing to the community. Money is important, but it should not be the driving force in one's life.

500 Word Essay On Importance Of Money

Creation of money.

People bartered for goods and services before money was invented. About 5000 years ago, the Mesopotamian people created the shekel. This is considered the first known form of currency. Around 650 to 600 BC, gold & silver coins were stamped and used to pay armies. From then to now, money's importance has been increasing daily.

Origin of money

The word money is derived from the Latin word "Moneta" . Moneta means coin . In the ancient world, Juno was often associated with money.

Types of Money

There are seven types of money—representative, fair, paper, commodity, coinage, digital and commercial bank money . This money is used for exchange depending on their need and requirement.

Properties of money

The different properties of money are durability, divisibility, portability, uniformity, acceptability and limited supply. Having such unique and essential properties adds value to money.

Basic Need For Money

No matter their financial situation, everyone needs money. Money is required for many things, including purchasing clothing, housing, food, and other necessities. It's imperative to satisfy these needs. Our personal and societal well-being will suffer severely if we don't have enough money to achieve it.

Uses of money

In reality, we can say there are only five main uses for money

We can use it to live.

We can give it.

We can pay taxes.

We can repay debt and

We can save or grow it.

Power Of Money

Money has significant power to rule human life. It provides people with the ability to have the freedom to do what they want, be who they want and go where they want. Life with money will have success, freedom, choice, security, happiness and many more. Without money, we would be reduced to a barter economy. For every penny we spend in life, we need to think twice about whether it is worth it. Life without money shows us what adjustment is, what scarcity or starving for food is.

Impact Of Money

Money has a significant impact on our lives, influencing various aspects such as:

Basic necessities: Money allows us to meet our basic needs such as food, shelter, clothing, and healthcare.

Security: Having a stable source of income provides financial security, allowing us to plan for the future and reducing stress.

Career and personal development: Money provides the means for individuals to invest in themselves and their careers, allowing for personal growth and professional advancement.

Lifestyle: Money affects our lifestyle and the choices we make, from the type of home we live in to the leisure activities we pursue.

Relationships: Money can influence relationships, as disagreements over financial issues are common and can cause stress and tension.

Social status: Money affects social status, as income and wealth can determine access to certain opportunities and experiences.

Mental well-being: Money has a significant impact on mental health, as financial stress and insecurity can cause anxiety and depression.

In conclusion, money affects many aspects of our lives and has the potential to greatly impact our well-being, both positively and negatively. It is important to manage money wisely and to strive for financial stability while also balancing other important aspects of life.

Explore Career Options (By Industry)

• Construction
• Entertainment
• Manufacturing
• Information Technology

Data Administrator

Database professionals use software to store and organise data such as financial information, and customer shipping records. Individuals who opt for a career as data administrators ensure that data is available for users and secured from unauthorised sales. DB administrators may work in various types of industries. It may involve computer systems design, service firms, insurance companies, banks and hospitals.

Bio Medical Engineer

The field of biomedical engineering opens up a universe of expert chances. An Individual in the biomedical engineering career path work in the field of engineering as well as medicine, in order to find out solutions to common problems of the two fields. The biomedical engineering job opportunities are to collaborate with doctors and researchers to develop medical systems, equipment, or devices that can solve clinical problems. Here we will be discussing jobs after biomedical engineering, how to get a job in biomedical engineering, biomedical engineering scope, and salary. 

Ethical Hacker

A career as ethical hacker involves various challenges and provides lucrative opportunities in the digital era where every giant business and startup owns its cyberspace on the world wide web. Individuals in the ethical hacker career path try to find the vulnerabilities in the cyber system to get its authority. If he or she succeeds in it then he or she gets its illegal authority. Individuals in the ethical hacker career path then steal information or delete the file that could affect the business, functioning, or services of the organization.

GIS officer work on various GIS software to conduct a study and gather spatial and non-spatial information. GIS experts update the GIS data and maintain it. The databases include aerial or satellite imagery, latitudinal and longitudinal coordinates, and manually digitized images of maps. In a career as GIS expert, one is responsible for creating online and mobile maps.

Data Analyst

The invention of the database has given fresh breath to the people involved in the data analytics career path. Analysis refers to splitting up a whole into its individual components for individual analysis. Data analysis is a method through which raw data are processed and transformed into information that would be beneficial for user strategic thinking.

Data are collected and examined to respond to questions, evaluate hypotheses or contradict theories. It is a tool for analyzing, transforming, modeling, and arranging data with useful knowledge, to assist in decision-making and methods, encompassing various strategies, and is used in different fields of business, research, and social science.

Geothermal Engineer

Individuals who opt for a career as geothermal engineers are the professionals involved in the processing of geothermal energy. The responsibilities of geothermal engineers may vary depending on the workplace location. Those who work in fields design facilities to process and distribute geothermal energy. They oversee the functioning of machinery used in the field.

Database Architect

If you are intrigued by the programming world and are interested in developing communications networks then a career as database architect may be a good option for you. Data architect roles and responsibilities include building design models for data communication networks. Wide Area Networks (WANs), local area networks (LANs), and intranets are included in the database networks. It is expected that database architects will have in-depth knowledge of a company's business to develop a network to fulfil the requirements of the organisation. Stay tuned as we look at the larger picture and give you more information on what is db architecture, why you should pursue database architecture, what to expect from such a degree and what your job opportunities will be after graduation. Here, we will be discussing how to become a data architect. Students can visit NIT Trichy , IIT Kharagpur , JMI New Delhi . 

Remote Sensing Technician

Individuals who opt for a career as a remote sensing technician possess unique personalities. Remote sensing analysts seem to be rational human beings, they are strong, independent, persistent, sincere, realistic and resourceful. Some of them are analytical as well, which means they are intelligent, introspective and inquisitive. 

Remote sensing scientists use remote sensing technology to support scientists in fields such as community planning, flight planning or the management of natural resources. Analysing data collected from aircraft, satellites or ground-based platforms using statistical analysis software, image analysis software or Geographic Information Systems (GIS) is a significant part of their work. Do you want to learn how to become remote sensing technician? There's no need to be concerned; we've devised a simple remote sensing technician career path for you. Scroll through the pages and read.

Budget Analyst

Budget analysis, in a nutshell, entails thoroughly analyzing the details of a financial budget. The budget analysis aims to better understand and manage revenue. Budget analysts assist in the achievement of financial targets, the preservation of profitability, and the pursuit of long-term growth for a business. Budget analysts generally have a bachelor's degree in accounting, finance, economics, or a closely related field. Knowledge of Financial Management is of prime importance in this career.

Underwriter

An underwriter is a person who assesses and evaluates the risk of insurance in his or her field like mortgage, loan, health policy, investment, and so on and so forth. The underwriter career path does involve risks as analysing the risks means finding out if there is a way for the insurance underwriter jobs to recover the money from its clients. If the risk turns out to be too much for the company then in the future it is an underwriter who will be held accountable for it. Therefore, one must carry out his or her job with a lot of attention and diligence.

Finance Executive

Product manager.

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

Operations Manager

Individuals in the operations manager jobs are responsible for ensuring the efficiency of each department to acquire its optimal goal. They plan the use of resources and distribution of materials. The operations manager's job description includes managing budgets, negotiating contracts, and performing administrative tasks.

Stock Analyst

Individuals who opt for a career as a stock analyst examine the company's investments makes decisions and keep track of financial securities. The nature of such investments will differ from one business to the next. Individuals in the stock analyst career use data mining to forecast a company's profits and revenues, advise clients on whether to buy or sell, participate in seminars, and discussing financial matters with executives and evaluate annual reports.

A Researcher is a professional who is responsible for collecting data and information by reviewing the literature and conducting experiments and surveys. He or she uses various methodological processes to provide accurate data and information that is utilised by academicians and other industry professionals. Here, we will discuss what is a researcher, the researcher's salary, types of researchers.

Welding Engineer

Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues. 

Transportation Planner

A career as Transportation Planner requires technical application of science and technology in engineering, particularly the concepts, equipment and technologies involved in the production of products and services. In fields like land use, infrastructure review, ecological standards and street design, he or she considers issues of health, environment and performance. A Transportation Planner assigns resources for implementing and designing programmes. He or she is responsible for assessing needs, preparing plans and forecasts and compliance with regulations.

Environmental Engineer

Individuals who opt for a career as an environmental engineer are construction professionals who utilise the skills and knowledge of biology, soil science, chemistry and the concept of engineering to design and develop projects that serve as solutions to various environmental problems. 

Safety Manager

A Safety Manager is a professional responsible for employee’s safety at work. He or she plans, implements and oversees the company’s employee safety. A Safety Manager ensures compliance and adherence to Occupational Health and Safety (OHS) guidelines.

Conservation Architect

A Conservation Architect is a professional responsible for conserving and restoring buildings or monuments having a historic value. He or she applies techniques to document and stabilise the object’s state without any further damage. A Conservation Architect restores the monuments and heritage buildings to bring them back to their original state.

Structural Engineer

A Structural Engineer designs buildings, bridges, and other related structures. He or she analyzes the structures and makes sure the structures are strong enough to be used by the people. A career as a Structural Engineer requires working in the construction process. It comes under the civil engineering discipline. A Structure Engineer creates structural models with the help of computer-aided design software. 

Highway Engineer

Highway Engineer Job Description:  A Highway Engineer is a civil engineer who specialises in planning and building thousands of miles of roads that support connectivity and allow transportation across the country. He or she ensures that traffic management schemes are effectively planned concerning economic sustainability and successful implementation.

Field Surveyor

Are you searching for a Field Surveyor Job Description? A Field Surveyor is a professional responsible for conducting field surveys for various places or geographical conditions. He or she collects the required data and information as per the instructions given by senior officials. 

Orthotist and Prosthetist

Orthotists and Prosthetists are professionals who provide aid to patients with disabilities. They fix them to artificial limbs (prosthetics) and help them to regain stability. There are times when people lose their limbs in an accident. In some other occasions, they are born without a limb or orthopaedic impairment. Orthotists and prosthetists play a crucial role in their lives with fixing them to assistive devices and provide mobility.

Pathologist

A career in pathology in India is filled with several responsibilities as it is a medical branch and affects human lives. The demand for pathologists has been increasing over the past few years as people are getting more aware of different diseases. Not only that, but an increase in population and lifestyle changes have also contributed to the increase in a pathologist’s demand. The pathology careers provide an extremely huge number of opportunities and if you want to be a part of the medical field you can consider being a pathologist. If you want to know more about a career in pathology in India then continue reading this article.

Veterinary Doctor

Speech therapist, gynaecologist.

Gynaecology can be defined as the study of the female body. The job outlook for gynaecology is excellent since there is evergreen demand for one because of their responsibility of dealing with not only women’s health but also fertility and pregnancy issues. Although most women prefer to have a women obstetrician gynaecologist as their doctor, men also explore a career as a gynaecologist and there are ample amounts of male doctors in the field who are gynaecologists and aid women during delivery and childbirth. 

Audiologist

The audiologist career involves audiology professionals who are responsible to treat hearing loss and proactively preventing the relevant damage. Individuals who opt for a career as an audiologist use various testing strategies with the aim to determine if someone has a normal sensitivity to sounds or not. After the identification of hearing loss, a hearing doctor is required to determine which sections of the hearing are affected, to what extent they are affected, and where the wound causing the hearing loss is found. As soon as the hearing loss is identified, the patients are provided with recommendations for interventions and rehabilitation such as hearing aids, cochlear implants, and appropriate medical referrals. While audiology is a branch of science that studies and researches hearing, balance, and related disorders.

An oncologist is a specialised doctor responsible for providing medical care to patients diagnosed with cancer. He or she uses several therapies to control the cancer and its effect on the human body such as chemotherapy, immunotherapy, radiation therapy and biopsy. An oncologist designs a treatment plan based on a pathology report after diagnosing the type of cancer and where it is spreading inside the body.

Are you searching for an ‘Anatomist job description’? An Anatomist is a research professional who applies the laws of biological science to determine the ability of bodies of various living organisms including animals and humans to regenerate the damaged or destroyed organs. If you want to know what does an anatomist do, then read the entire article, where we will answer all your questions.

For an individual who opts for a career as an actor, the primary responsibility is to completely speak to the character he or she is playing and to persuade the crowd that the character is genuine by connecting with them and bringing them into the story. This applies to significant roles and littler parts, as all roles join to make an effective creation. Here in this article, we will discuss how to become an actor in India, actor exams, actor salary in India, and actor jobs. 

Individuals who opt for a career as acrobats create and direct original routines for themselves, in addition to developing interpretations of existing routines. The work of circus acrobats can be seen in a variety of performance settings, including circus, reality shows, sports events like the Olympics, movies and commercials. Individuals who opt for a career as acrobats must be prepared to face rejections and intermittent periods of work. The creativity of acrobats may extend to other aspects of the performance. For example, acrobats in the circus may work with gym trainers, celebrities or collaborate with other professionals to enhance such performance elements as costume and or maybe at the teaching end of the career.

Video Game Designer

Career as a video game designer is filled with excitement as well as responsibilities. A video game designer is someone who is involved in the process of creating a game from day one. He or she is responsible for fulfilling duties like designing the character of the game, the several levels involved, plot, art and similar other elements. Individuals who opt for a career as a video game designer may also write the codes for the game using different programming languages.

Depending on the video game designer job description and experience they may also have to lead a team and do the early testing of the game in order to suggest changes and find loopholes.

Radio Jockey

Radio Jockey is an exciting, promising career and a great challenge for music lovers. If you are really interested in a career as radio jockey, then it is very important for an RJ to have an automatic, fun, and friendly personality. If you want to get a job done in this field, a strong command of the language and a good voice are always good things. Apart from this, in order to be a good radio jockey, you will also listen to good radio jockeys so that you can understand their style and later make your own by practicing.

A career as radio jockey has a lot to offer to deserving candidates. If you want to know more about a career as radio jockey, and how to become a radio jockey then continue reading the article.

Choreographer

The word “choreography" actually comes from Greek words that mean “dance writing." Individuals who opt for a career as a choreographer create and direct original dances, in addition to developing interpretations of existing dances. A Choreographer dances and utilises his or her creativity in other aspects of dance performance. For example, he or she may work with the music director to select music or collaborate with other famous choreographers to enhance such performance elements as lighting, costume and set design.

Social Media Manager

A career as social media manager involves implementing the company’s or brand’s marketing plan across all social media channels. Social media managers help in building or improving a brand’s or a company’s website traffic, build brand awareness, create and implement marketing and brand strategy. Social media managers are key to important social communication as well.

Photographer

Photography is considered both a science and an art, an artistic means of expression in which the camera replaces the pen. In a career as a photographer, an individual is hired to capture the moments of public and private events, such as press conferences or weddings, or may also work inside a studio, where people go to get their picture clicked. Photography is divided into many streams each generating numerous career opportunities in photography. With the boom in advertising, media, and the fashion industry, photography has emerged as a lucrative and thrilling career option for many Indian youths.

An individual who is pursuing a career as a producer is responsible for managing the business aspects of production. They are involved in each aspect of production from its inception to deception. Famous movie producers review the script, recommend changes and visualise the story. 

They are responsible for overseeing the finance involved in the project and distributing the film for broadcasting on various platforms. A career as a producer is quite fulfilling as well as exhaustive in terms of playing different roles in order for a production to be successful. Famous movie producers are responsible for hiring creative and technical personnel on contract basis.

Copy Writer

In a career as a copywriter, one has to consult with the client and understand the brief well. A career as a copywriter has a lot to offer to deserving candidates. Several new mediums of advertising are opening therefore making it a lucrative career choice. Students can pursue various copywriter courses such as Journalism , Advertising , Marketing Management . Here, we have discussed how to become a freelance copywriter, copywriter career path, how to become a copywriter in India, and copywriting career outlook. 

In a career as a vlogger, one generally works for himself or herself. However, once an individual has gained viewership there are several brands and companies that approach them for paid collaboration. It is one of those fields where an individual can earn well while following his or her passion. 

Ever since internet costs got reduced the viewership for these types of content has increased on a large scale. Therefore, a career as a vlogger has a lot to offer. If you want to know more about the Vlogger eligibility, roles and responsibilities then continue reading the article. 

For publishing books, newspapers, magazines and digital material, editorial and commercial strategies are set by publishers. Individuals in publishing career paths make choices about the markets their businesses will reach and the type of content that their audience will be served. Individuals in book publisher careers collaborate with editorial staff, designers, authors, and freelance contributors who develop and manage the creation of content.

Careers in journalism are filled with excitement as well as responsibilities. One cannot afford to miss out on the details. As it is the small details that provide insights into a story. Depending on those insights a journalist goes about writing a news article. A journalism career can be stressful at times but if you are someone who is passionate about it then it is the right choice for you. If you want to know more about the media field and journalist career then continue reading this article.

Individuals in the editor career path is an unsung hero of the news industry who polishes the language of the news stories provided by stringers, reporters, copywriters and content writers and also news agencies. Individuals who opt for a career as an editor make it more persuasive, concise and clear for readers. In this article, we will discuss the details of the editor's career path such as how to become an editor in India, editor salary in India and editor skills and qualities.

Individuals who opt for a career as a reporter may often be at work on national holidays and festivities. He or she pitches various story ideas and covers news stories in risky situations. Students can pursue a BMC (Bachelor of Mass Communication) , B.M.M. (Bachelor of Mass Media) , or  MAJMC (MA in Journalism and Mass Communication) to become a reporter. While we sit at home reporters travel to locations to collect information that carries a news value.  

Corporate Executive

Are you searching for a Corporate Executive job description? A Corporate Executive role comes with administrative duties. He or she provides support to the leadership of the organisation. A Corporate Executive fulfils the business purpose and ensures its financial stability. In this article, we are going to discuss how to become corporate executive.

Multimedia Specialist

A multimedia specialist is a media professional who creates, audio, videos, graphic image files, computer animations for multimedia applications. He or she is responsible for planning, producing, and maintaining websites and applications. 

Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

Production Manager

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

ITSM Manager

Automation test engineer.

An Automation Test Engineer job involves executing automated test scripts. He or she identifies the project’s problems and troubleshoots them. The role involves documenting the defect using management tools. He or she works with the application team in order to resolve any issues arising during the testing process. 

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Why it’s crucial to understand the purpose of money in your life

Use your finances as a tool to support the life you want to live.

The key to better conversations about money with your spouse is to stop trying to win the conversation. Photo: Getty

Fighting about money is common among couples . Why? Firstly, two thirds of us rate money as a significant source of stress . When we’re stressed, we no longer talk like adults.

Secondly, money is considered taboo . Everyone is a little odd about it. We all have different backgrounds and money histories. We also tend to push our own views of money on to our partners.

Finally, it’s deeply personal and emotional .

The key to better conversations about money is to stop trying to win the conversation. Stop trying to prove how right you are. Instead, seek to understand your partner’s point of view and perhaps consider drafting a simple financial purpose statement. This should state the purpose of money in your life.

That’s it. It’s simple, yet profound. Rework this as often as you need, but keep it genuine and easy to remember.

It becomes a lens through which to view your financial life and focus your attention on the role money needs to play for you.

Let’s look at some examples.

The overspender: Money was very tight in Omar’s family when he was growing up. He made his way to the UAE and became a successful professional, earning a six-figure salary. Now that he finds himself with an upper-middle-class lifestyle, it’s easy for him to justify buying things that he could never have when he was growing up.

Omar knows he should be spending less and saving more , but information alone hasn’t been enough to help. He lives from one paycheque to the next.

He works on his statement and it reads: “Money’s purpose in my life is to provide security and peace of mind to my family and me.”

This helps him understand how to differentiate between impulse and necessity by asking himself if the purchase he’s about to make aligns with his financial purpose.

The underspender : James has been saving his whole life and is proud of his nest egg . He grew up watching his father make some bad financial decisions and vowed he would be different.

Now that he’s approaching retirement , it’s hard for him to imagine not being able to save and even harder to imagine relying on his savings.

He and his wife fight regularly because he believes she spends too much, while she believes he is too cheap. Although they have an eight-figure net worth, James still stresses over relatively small purchases such as restaurant bills.

Intentionality here can help the two of them realise that life is short, they don’t have many more active years left and that leaving millions to their children wasn’t the main goal.

Their combined statement reads as follows: “Money’s purpose in our lives is to share our fortune with family and community and to enable happy, meaningful times for the two of us.”

Now, James and his wife can enjoy holidays , renovations to their house and even date nights without fighting about overspending.

The social comparer : Phil is a real estate broker and has trouble avoiding social comparison. He doesn’t want to just keep up with the Joneses , he wants to be the Joneses. When he sees other people with a newer phone, fancier gadget or other luxuries that he doesn’t have, he has an immense feeling of deprivation.

He works in an industry that focuses heavily on status and his career makes him feel compelled to impress potential clients and other agents.

After some self-introspection, his statement reads: “Money’s purpose in my life is to help me connect and create.”

This helps Phil ground his identity to his personal values. It made him realise he’d been using his money, time and energy in ways that didn’t align with what was important to him. Instead, he feels happiest when he’s connecting with other people and engaging in creative pursuits.

Phil has learnt to compare himself with prior versions of himself, rather than with others. It has taken practice but when he feels a sense of deprivation, Phil checks in with his statement and lets that feeling pass.

Here are some other real-life examples of financial purpose statements:

• Money’s purpose in my life is to support a calm, fulfilling and enjoyable lifestyle.
• Money’s purpose in my life is to allow me to share experiences with my family and raise responsible, independent children.
• Money’s purpose in my life is to live life fully and contribute generously.
• Money’s purpose in my life is to provide security and stability to my family. It should never be valued over relationships or my values. Excess should be freely and joyfully shared with others in need.
• Money’s purpose in our lives is to allow us to spend quality time together as a family, supporting a lifestyle that satisfies our needs with opportunities to give, travel and save.
• Money’s purpose in my life is to enable me to live life to the fullest.

Once you know your financial purpose, write it down. Stick it on your fridge. Carry it with you. Memorise it. Use it whenever you need to make sure you’re using your money as a tool to support the life you want to live.

We get one shot. Spend time deciding what you want out of life and choose how to use your money to support it. Live the life you’ll be proud to look back on without regret or remorse.

Sam Instone is co-chief executive of wealth management company AES

On The Money

Make money work for you with news, features and expert analysis

Essay on Money for Students and Children

500+ words essay on money.

Money is an essential need to survive in the world. In today’s world, almost everything is possible with money. Moreover, you can fulfill any of your dreams by spending money. As a result, people work hard to earn it. Our parents work hard to fulfill our dreams .

Furthermore various businessmen , entrepreneurs have startup businesses to earn profits. They have made use of their skills and intelligence in getting an upper hand in earning. Also, the employee sector works day and night to complete their tasks given to them. But still, there are many people who take shortcuts to success and get involved in corruption.

Black Money

Black money is the money that people earn with corruption . For your information corruption involves the misuse of the power of high posts. For instance, it involves taking bribes, extra money for free services, etc. Corruption is the main cause of the lack of proper growth of the country .

Moreover, money that people having authority earns misusing their powers is black money. Furthermore, these earnings do not have proper documentation. As a result, the people who earn this do not pay income tax . Which is a great offense and the person who does this can be behind bars.

Money Laundering

In simple terms, money laundering is converting black money into white money. Also, this is another illegal offense. Furthermore, money laundering also encourages various crimes. Because it is the only way criminal can use their money from illegal sources. Money laundering is a crime, and the people who practice it are liable to go to jail.

Therefore the Government is taking various preventive measures to abolish money laundering. The government is linking bank accounts to AADHAR Card. To get all the transaction detail of each bank account. As a result, the government comes to know if any transaction is from an illegal source .

Also, every bank account has its own KYC (Know your Customer) this separates different categories of income of people. Businessmen are in the high-risk category. Then comes the people who are on a high post they are in the medium-risk category. Further, the last category is of the Employee sector they are at the lowest risk.

Get the huge list of more than 500 Essay Topics and Ideas

White Money

White money is the money that people earn through legal sources. Moreover, it is the money on which the people have already paid the tax. The employee sector of any company always has white money income.

Because the tax is already levied on their income. Therefore the safest way to earn money is in the employment sector. But your income will be limited here. As a result, many people take a different path and choose entrepreneurship. This helps them in starting their own company and make profitable incomes .

Every person in this world works hard to earn money. People try different methods and set of skills to increase their incomes. But it is always not about earning money, it’s about saving and spending it. People should spend money wisely. Moreover, things should always be bought by judging their worth. Because money is not precious but the efforts you make for it are.

Q1. What is Black Money?

A1. Black money is the money that people earn through illegal ways. It is strictly prohibited in our country. And the people who have it can go to jail.

Q2. What is the difference between Black money and White money?

A2. The difference between black money and white money is, Black money comes from illegal earnings. But white money comes from legal sources with taxation levied on it.

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Economic Sociology & Political Economy

The global community of academics, practitioners, and activists – led by dr. oleg komlik, the role of money in social life: morality and power in the world of the poor.

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“Perhaps behind the coin is God.” — Jorge Luis Borges, The Zahir (1949)  

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[…] as well as on Sandel’s What Money Can’t Buy, Barman’s Caring Capitalism, Wilkis’ The Moral Power of Money, Morduch and Schneider’s The Financial Diaries, and Sherman’s Uneasy […]

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The New York Times

The learning network | how important a role has money, work or social class played in your life.

How Important a Role Has Money, Work or Social Class Played in Your Life?

Annabel la riva | finding my voice.

In her college essay, Annabel La Riva, a LaGuardia High School senior, writes about transcending class differences and finding her own voice through music. Ms. La Riva plans to attend Kenyon College.

Questions about issues in the news for students 13 and older.

• See all Student Opinion »

That’s a big question, we know, but it’s one that inspired the seven winning college essays in a recent contest run by the Business section.

Watch the video above and read the essays, then reflect on how those topics have affected who you are by answering the questions at the bottom of this post.

In “ Essays About Work and Class That Caught a College’s Eye ,” Ron Lieber writes:

Of the 1,200 or so undergraduate admission essays that Chris Lanser reads each year at Wesleyan University, maybe 10 are about work. This is not much of a surprise. Many applicants have never worked. Those with plenty of money may be afraid of calling attention to their good fortune. And writing about social class is difficult, given how mixed up adolescents often are about identity. Yet it is this very reluctance that makes tackling the topic a risk worth taking at schools where it is hard to stand out from the thousands of other applicants. Financial hardship and triumph, and wants and needs, are the stuff of great literature. Reflecting on them is one excellent way to differentiate yourself in a deeply personal way. Each year, to urge them on, we publish the best application essays about these subjects that we can find. This year, we chose seven with the help of Julie Lythcott-Haims, the former dean of freshmen at Stanford whose new book, “How to Raise an Adult,” is coming out next month. You can read the full essays here . The essays that came over the transom were filled with raw, decidedly mixed feelings about parents and their sacrifices; trenchant accounts of the awkwardness of straddling communities with vastly different socio-economic circumstances; and plain-spoken — yet completely affecting — descriptions of what it means to make a living and a life in America today. The single most memorable line we read this year came from an essay by Carolina Sosa, who lives in Centreville, Va., and will attend Georgetown University. In writing about her father’s search for a job, she described the man named Dave who turned him away. “Job searching is difficult for everyone, but in a world full of Daves, it’s almost impossible,” she wrote. “Daves are people who look at my family and immediately think less of us. They think illegal, poor and uneducated. Daves never allow my dad to pass the first round of job applications. Daves watch like hawks as my brother and I enter stores. Daves inconsiderately correct my mother’s grammar. Because there are Daves in the world, I have become a protector for my family.”

Students: Read Mr. Lieber’s reflections, and then the essays themselves . Finally, tell us …

— Which of these essays did you relate to most? Which lines or stories most moved you? Why?

— Why do you think money and social class are such difficult subjects to talk or write about?

— Do you think you would write about any of these topics for your college essay? Why or why not?

— If you were to write an essay about the role of money, work or social class in your life, what might you say? How have these things shaped, defined or challenged you?

Students 13 and older are invited to comment below. Please use only your first name. For privacy policy reasons, we will not publish student comments that include a last name.

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4.8: The Role of Money

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The Role of Money

“ the mint makes it first, it is up to you to make it last. ” - evan esar.

As humans have evolved, so has the concept of trade and money. We determined that a barter economy, or a moneyless economy that relied on trade, would work for a simple society, but it could not work for a complex society. Without money, trade is not always easy or mutually beneficial. The use of money has made life and trade much easier on a country and its population. Money functions as a medium of exchange, a measure of value, and a store of value. Money is portable, durable, easily divisible, and limited in availability. Money has evolved so much over the last two hundred years that it has moved from gold and silver coins to paper currency, to checks, debit cards, and credit cards.

Universal Generalizations

• Money is what people in a society regularly use when purchasing or selling goods and services
• Money is any substance that functions as a medium of exchange, a measure of value, and a store of value.
• Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.

Guiding Questions

• What functions does money serve in an economy?
• What is the characteristic of commodity money, fiat money, and representative money?
• What are the advantages and disadvantages of bartering, using currency and credit/debit cards for exchanges?

Functions of Money

What does money actually do? Economists usually subdivide its functions into three categories: a medium of exchange, a store of value, and a unit of value.

Video: Functions of Money

Defining money is almost as tricky as defining air. It's something we use every day, but most people don't stop to think about what money is. Money is hard for most people to describe because, at its core, money is an idea. Conceptually, anything is considered money if it functions as:

• a medium of exchange,
• a store of value, and
• a unit of account.

Given that money can have such a broad interpretation, we use monetary aggregates to measure the money supply, with categories based on liquidity .

The Three Functions of Money

Money is just one of many types of assets. What makes money different from other assets is its ability to do more than just store value. Most importantly, for an asset to be considered money, it must be accepted as a form of payment.

Interestingly, almost anything can be money as long as it can act as:

• a medium of exchange
• a store of value
• a unit of account

A Medium of Exchange

The most important function of money is its use as a way of buying things, in other words, as a medium of exchange . If your grandmother sends you \$20$20 dollar sign, 20tucked in a birthday card, you can take that and buy whatever you want with that money. Well, up to \$20$20dollar sign, 20 worth of whatever you want.

A Store of Value

What if you have money, but don’t know what you want to spend it on yet? But, suppose you had no idea what you wanted? You save that \$20$20dollar sign, 20 in your room and spend another day. That is money acting as a store of value . If money fails as a store of value, it will also fail as a medium of exchange. If money didn’t keep its value for later, you would have to spend it immediately on something before it became worthless.

A Unit of Account

This function makes transactions easier to carry out because it means money can give a specific value to something. Suppose there are three people with goods to trade. Caleb wants to sell a snake habitat in exchange for three pizzas, Cadell wants to sell a pizza in exchange for two movie tickets, and Caprice wants to sell four movie tickets in exchange for two snake habitats. Trying to untangle these exchange prices would cause quite a headache. Instead, it's much easier to value these goods using a single, common currency.

MB = cash and coins in circulation + bank reserves

Key Equations

M1 = cash and coins in circulation + checkable bank deposits + travelers checks

M2 = M1 + savings accounts + small CDs + money market mutual funds

Common Misperceptions

• Monetary aggregates might be easy to confuse with each other. An easy way to remember them is that the higher the number on the aggregate is, the less liquid that kind of money is. M2 is less liquid than M1.
• It might be confusing that checking accounts are considered narrow money, but savings accounts are considered near money. The reason for this is that savings accounts tend to have some limitations on them that checking accounts usually do not. Most checking accounts are demand deposit. Savings accounts frequently will have limitations such as being only able to make five withdrawals per month or having to wait ten days after you deposit money to get them.
• You might see a reference to an even broader monetary aggregate in your textbook or class and be confused why it isn't here. The monetary aggregate M3 is tracked in some countries, but not others (the U.S. stopped tracking this category in 2006). If you see M3 elsewhere, the most important thing to remember about it is that M3 is less liquid than M2. In fact, you might even see a broader category called L, which is even less liquid than M3. -Are cryptocurrencies money? There is actually some debate about whether cryptocurrencies (such as bitcoin) are money or just a financial asset. In fact, central banks around the world are grappling with this question right now, and there isn’t any consensus on this issue. The main sticking point to argue that cryptocurrencies aren’t money is that they generally cannot be used as legal tender (in other words, to buy stuff). Not a lot of stores are equipped to take cryptocurrencies to buy goods and services, at least not yet. As of right now, cryptocurrencies aren’t included in either the narrow or broad definition of the money supply.

Video: Commodity Money vs. Fiat Money

Source: Khan Academy, www.khanacademy.org/economics-finance-domain/macroeconomics/monetary-system-topic/functions-of-money-2/v/commodity-money-vs-fiat-money

Self Check Questions

• Explain the three functions of money. Which function of money do you feel is most important to your daily life? Why?

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The Role Of Money And Finances On Happiness

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Essay on Money Is Important for Happiness

Students are often asked to write an essay on Money Is Important for Happiness in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Money Is Important for Happiness

Introduction.

Money is often linked to happiness. Having enough money can bring joy as it helps meet our needs and desires.

The Role of Money

Money is vital for survival. It buys food, clothes, and shelter, which are basic human needs. Without money, life becomes challenging.

Money and Freedom

Money offers freedom. It allows us to travel, explore new things, and have unique experiences, all of which can make us happy.

Money and Security

Money provides security. Knowing we have enough money to handle emergencies gives peace of mind, contributing to happiness.

While money isn’t everything, it plays a significant role in achieving happiness.

250 Words Essay on Money Is Important for Happiness

The essential role of money in achieving happiness.

Money, often portrayed as a villain, is in fact a crucial element in the pursuit of happiness. While it is not the sole determinant, it undeniably contributes significantly to our overall well-being.

Money as a Means to Meet Basic Needs

Firstly, money is essential in fulfilling our basic needs such as food, shelter, and clothing. These necessities form the foundation of Maslow’s hierarchy of needs, a psychological theory that posits the fulfillment of basic needs as a prerequisite to achieving happiness. Without money, the struggle to meet these needs can lead to stress and unhappiness.

The Freedom and Opportunities Money Provides

Secondly, money affords us freedom and opportunities. It provides the means to pursue hobbies, travel, and explore new cultures, all of which can enrich our lives and increase our happiness. Moreover, money can also enable us to pursue further education or start a business, thereby fostering personal growth and satisfaction.

Money’s Role in Alleviating Suffering

Lastly, money can help alleviate suffering. It can provide access to quality healthcare, allowing us to maintain good health and longevity. It also enables us to help others, either through charitable donations or supporting loved ones, which can bring immense joy and fulfillment.

In conclusion, while money cannot buy happiness outright, it plays a pivotal role in creating conditions conducive to happiness. Recognizing this can help us approach money with a healthier mindset, seeing it not as an end in itself, but as a tool for achieving a happier and more fulfilling life.

500 Words Essay on Money Is Important for Happiness

Money, a medium of exchange, is a crucial element of life. It is an undeniable fact that it plays a significant role in shaping up the happiness and well-being of individuals. The concept of money and happiness has been debated for centuries, with various perspectives on its importance. This essay will explore the multifaceted relationship between money and happiness, shedding light on why money is significant for happiness.

The Necessity of Money for Basic Needs

To begin with, money is necessary for meeting basic human needs, which include food, shelter, and clothing. Without money, it would be challenging to fulfill these needs, leading to a life of hardship and, consequently, unhappiness. Maslow’s hierarchy of needs supports this perspective, placing physiological needs at the base of the pyramid, which are essential for survival and can only be met through financial means.

Money as a Means to Improve Quality of Life

Beyond basic necessities, money also allows individuals to improve their quality of life. It provides access to better healthcare, education, and opportunities for self-improvement and growth. These elements contribute significantly to one’s overall happiness. Moreover, money can be used to acquire experiences that bring joy, such as travel, hobbies, or spending time with loved ones.

Financial Security and Mental Peace

Financial security, facilitated by money, is another crucial factor contributing to happiness. The absence of financial stress can lead to better mental health and overall well-being. Money can provide a safety net for unexpected situations, giving individuals peace of mind and the freedom to pursue their passions without the constant worry of financial instability.

The Limitations of Money in Achieving Happiness

While the importance of money for happiness is evident, it is essential to recognize its limitations. Research suggests that beyond a certain income level, additional money does not significantly increase happiness. This is known as the ‘Easterlin Paradox.’ Furthermore, an excessive focus on money can lead to materialism, which can negatively impact relationships and personal satisfaction.

In conclusion, money plays a crucial role in facilitating happiness by meeting basic needs, improving quality of life, and providing financial security. However, it is not the only determinant of happiness, and its pursuit should be balanced with other aspects of life, such as relationships, passions, and personal growth. Therefore, while money is important for happiness, it is not the sole ingredient and should be viewed as a tool to achieve happiness rather than the end goal.

That’s it! I hope the essay helped you.

If you’re looking for more, here are essays on other interesting topics:

• Essay on Money Can Buy Everything
• Essay on Importance of Saving Money
• Essay on Importance of Money

Apart from these, you can look at all the essays by clicking here .

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Essay on Money: How money is important in our life? (1000 Words)

Money is a wonderful invention of man. It is the power that helps people in earning and spending. Its importance can be understood by knowing how it solves the problems of human beings. We should know how to spend money properly and how we can save money for future use. In this essay, we’ll talk about the importance of money.

Money is a wonderful invention of man

The value of money is based on the following functions:

• Medium of exchange – Money is a medium that facilitates the exchange of goods and services. It can be used to purchase groceries, pay your student fees or even buy concert tickets.
• Store of value – Money allows you to store purchasing power over time so that you can use it later when required. For example, if you earn $400 today but do not need all of this money in one go, you would rather keep it for later use as ordering pizza with friends next weekend or buying tickets for movies.
• Unit of account – Money provides an agreed standard for measuring how much something costs, such as $6 for breakfast sandwich from McDonalds or $800 for a new laptop computer.

When barter system was prevalent, human relations deteriorated to a great extent

When barter system was prevalent, human relations deteriorated to a great extent. The reason for this is that in a barter system there is no currency or money. Therefore, when a person has a surplus of goods and services he can exchange them with others but if his requirements are more than what he has then he faces a problem.

The existence of money paved way for good and improved living standard

The first currency that was widely used was gold and silver. Gold coins were used as a medium of exchange, while silver coins were used as a store of value. Gold and silver are extremely scarce resources, so they were chosen over other materials because their scarcity made them scarce resources with high value.

The introduction of money has made our lives easier than before. We can now purchase goods and services without having to wait for someone to give us what we need. People can also save up their money for future use when the need arises without having to worry about keeping track of everything they have spent on each item or service rendered to them.

Does money matter in life?

In order to understand how money works in our lives today, we must first know what it is and how it functions. Money is any object or record that is generally accepted in payment for goods and services; serves as a medium of exchange, unit of account, or store of value; and is generally accepted as final payment for goods (Federal Reserve Bank). Money can be categorized into three main types: commodity money (gold), representative money (fiat currency), verification system (digital currency).

Some people think that money is a very important thing in their lives because they can use it to buy what they want, but some people think that money isn’t so important. For example, some people have lots of money and they can buy anything they want with their money; however, other people don’t have much money and have no choice but to work hard every day just to earn enough for themselves and their family.

Regardless as to which side you are on, there is no denying that a person’s life experiences are often dependent on their financial situation. Money does not always guarantee happiness or security; however, having enough cash flow certainly makes daily life easier for most individuals.

Why money is important in our life?

Money is the medium of exchange. We, humans use money to buy things and services from others. Without it, we cannot live a comfortable life as we need food, clothes and shelter. If you have no money you will be miserable because all these things are very necessary for our survival in this world.

The following points will help you better understand why money is important in our lives:

• Money helps us to buy food and clothes etc., which means without enough amount of money one can’t survive properly;
• Money helps us to buy various services like transportation, medical care etc.;
• Money also helps us build our houses and other buildings such as schools or colleges;

The power of money

The power of money is beyond imagination. It can buy anything you want, but only if you have enough of it. Money can buy happiness, education and even health. It can also make us feel secure when we have a lot of it saved up in the bank or kept under our mattress! If we have enough money then no one will ever be able to hurt us because they will know that they cannot take away what is rightfully ours.

Money has many benefits; it allows us to live comfortably without worrying about where our next meal will come from or how we are going to pay for college tuition fees for our childrens’ education. With more than enough money at hand, life becomes much easier as well as enjoyable because there is nothing stopping us from doing what makes us happy such as travelling abroad or buying new clothes whenever we need them (as opposed to waiting until payday).

Some evils are also associated with money

Money can be a source of happiness and joy or it can also be a source of evil. Money is not everything and therefore, we should not put too much emphasis on it. Money has its own merits as well as demerits.

The main merit of having money is that it helps you live a comfortable life by providing you with all the resources necessary for living comfortably like food, shelter, clothing and education etcetera.

The main demerit associated with having money is that people who have more than required amount of wealth become greedy and start doing illegal activities to earn more money which later becomes their source of evil as well as discomfort in lives.

Money is a powerful tool which can be used for bringing good or bad to the society. If we use it in a right way then it will help us to improve our lives and make us more comfortable but if we misuse it then all of us are going to suffer. So, money is important in life because with this currency we can purchase things that we want and also give charity as well.

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12 Powerful Essays on Money [ Importance, Value, Power ]-2024

Money is really an important role player in our lives. But, we need to accept, money is not everything. Though money has the power, you can enjoy and afford every material luxury of life. But that is short lived. Money can’t bring real happiness, peace, certainty, power and freedom.

List of Topics

We have written the following short and long essays on topic Money. These essays cover all related topics including; importance and power of money, is money everything, role of money in life etc.

Essay on Money | Value, Role & Importance of Money in Life

It cannot be denied that money is essential for our healthy living. In order to remain in good standings in society, we will need money to live a life and maintain our good standings.

The money is essential for providing necessary comforts and amenities of the life. When you have money, you have everything you could ever want.

In order for us to get a good personality we need money, which will also improve our self-confidence. We will become more credible, improve our capabilities, increase our confidence level, and enhance our courage to a greater extent.

With no money, no one will help us. In a world where nobody is willing to help, we feel helpless. A person cannot live and survive in today’s materialistic world without money.

Today, in order to earn more money through unfair means, bad people take assistance from corruption, bribes, smuggling, etc. People who are lazy may follow the wrong ways to earn money, assuming that these methods are easy and simple.

It is true that one can earn more money through less effort, but not for long; surely he will lose his money by following a wrong and weak path in the near future.

A person who earns money by following the rules of humanity earns less money but for a long period of time and then becomes a well known personality in the society.

People who commit corruption hide their money as black money in other countries to hide it from the general public. Their money is used for doing bad things or living in luxury.

It is generally observed that those who have more money by either means, are respected by ordinary people. As money is the factor of power in society.  Those powerful people then wield social and political power in our society.

It is however an established fact that money is not the entire thing in our life. You can’t buy time with money . Neither you earn the real respect, love or affection when you have illegal money. The real joy of peace, happiness or satisfaction come through hard work, dedication, sincerity and peacefulness

Essay on Power of Money in Life

One cannot imagine a healthy and peaceful life without money. We need money even to buy a single needle. Nowadays, when everything is becoming more expensive and civilization is becoming increasingly advanced and following western culture, we need more money.

In the past, people relied on the barter system in which they would be able to exchange things for goods, but in the modern world, money is all that is necessary to purchase everything. Money is becoming more and more important as the cost of living increases.

A great deal of importance has been attached to money in the production, consumption, exchange, distribution, public finance, etc. As a result, it plays an important role in determining raw material input, income, employment, output, and general price levels of anything, etc.

Essay on Money is Everything

In a highly competitive and expensive society, no one can live without money. Food, clothing, and many other necessities of life are nearly impossible to buy without money.

A poor person in a society is viewed as an enemy due to their poverty. However, rich and powerful people are perceived as decent and honest people.

Money can increase a person’s status in the society and make him look good. To fulfill the ever-increasing demands of the modern age, we all strive to be wealthy through a good job or business. The reality is that very few people get this chance of becoming millionaires.

As a result, everything is dependent upon money, be it rich or poor, urban or rural. Money is essential to everyone, whether he or she is living in the city or in the country. In cities, people are earning a higher salary than those in rural or backward areas. This is because the people of urban areas have more access to the technologies and get more opportunities because they have access to the easy resources

Essay on Money is the Root of all Evils:

Money has been a part of human society since its inception. It has evolved from being used as a medium of exchange to becoming a symbol of power and success. People have always desired to accumulate wealth, and in today’s materialistic world, money has become the ultimate goal for many.

However, with this desire for wealth, comes numerous negative consequences that are often overlooked. In this essay, we will discuss how money can be considered as the root of all evils.

The Obsession with Money

In the pursuit of materialistic possessions, people often become obsessed with money. Money becomes their sole purpose in life, and they are willing to do whatever it takes to acquire it. This obsession can lead individuals down a path of greed, where they only care about their own financial gain without considering the consequences of their actions. As a result, many unethical and immoral activities such as fraud, theft, and corruption occur due to this unhealthy obsession with money.

Creates Disparity and Inequality

Another major issue caused by the love for money is the creation of disparity and inequality within society. People with more wealth tend to have better access to education, healthcare, and opportunities that can lead to a better quality of life. This creates an uneven playing field where those who are already financially stable have an advantage over others.

As a result, poverty rates increase, leading to social unrest and crime in society. Moreover, the gap between the rich and poor continues to widen as the wealthy become wealthier while the poor struggle to make ends meet.

Causes Conflict and Strife

Money can also be considered as the root of many conflicts and strife within society. As people become more obsessed with money, they are willing to go to extreme lengths to protect their wealth. This can lead to disputes and disagreements among individuals, communities, and even nations. Wars have been fought over resources and power, which ultimately stems from the desire for money.

On a smaller scale, family relationships can also be affected when one member becomes financially successful while others struggle. This creates tension and resentment within the family unit, leading to conflict and strain in relationships.

It Leads to Materialism and Consumerism

The pursuit of money also leads to a culture of materialism and consumerism. People often equate their self-worth and happiness with the possessions they own. This constant need for more, bigger, and better things can lead to excessive spending, debt, and financial strain.

Furthermore, the never-ending cycle of consumption has negative consequences on the environment as resources are depleted at an alarming rate. This consumeristic mindset also perpetuates a throwaway culture where items are discarded instead of being repaired or reused, leading to environmental pollution and waste.

In conclusion, while money may be necessary for survival and provides a sense of security, it can also be considered as the root of all evils in society. The unhealthy obsession with money leads to numerous negative consequences such as greed, inequality, conflict, and environmental degradation. It is essential to recognize the dangers of this love for wealth and strive towards a more balanced and equitable distribution of resources in society.

As the saying goes, “money cannot buy happiness,” and it is crucial to prioritize values such as compassion, empathy, and kindness over material possessions. So let us not forget that money is just a means to an end and not an end in itself. The true wealth lies in human relationships and making a positive impact on society, not in the accumulation of material possessions.

Essay on Money Management:

In today’s fast-paced world, money management is an essential skill that everyone should possess. It is the process of managing one’s finances wisely to achieve financial stability and security. Proper money management involves budgeting, saving, investing and controlling spending habits. In this essay, we will discuss the importance of money management and some tips for effective management.

One of the main reasons why money management is crucial is because it helps individuals to reach their financial goals. Whether it is buying a new house, funding education or planning for retirement, good money management can help achieve these goals. Proper budgeting allows individuals to allocate their income towards different expenses wisely. It also helps in identifying areas where one can cut down on unnecessary spending and save more money. By saving money, individuals can have a financial safety net for any unexpected expenses or emergencies.

In addition to achieving financial goals, effective money management also leads to a stress-free life. People who manage their money well are less likely to face financial difficulties and are better equipped to handle financial crises. They also have a sense of control over their finances and do not live paycheck-to-paycheck. This can reduce the stress and anxiety associated with money matters. Moreover, good money management can also improve relationships as financial problems are one of the leading causes of stress and conflicts in marriages and families.

Now let us discuss some tips for effective money management:

• Creating a budget is the first step towards managing money properly. It helps in tracking expenses and controlling spending.
• Setting financial goals is crucial as it gives direction to one’s financial decisions and motivates towards saving and investing.
• Saving a portion of income regularly should be a priority. Experts recommend saving at least 10% to 15% of one’s income for future needs.
• Controlling spending habits is essential to avoid unnecessary expenses and impulse purchases.
• Investing money wisely can help in growing wealth and achieving long-term financial goals.
• Regularly reviewing and adjusting the budget and financial plan is important to adapt to changing circumstances.

In conclusion, managing money well is crucial for achieving financial stability, reducing stress and improving relationships. By following some simple tips and being disciplined with finances, individuals can achieve their financial goals and lead a comfortable life.

Remember, it is never too late to start practicing good money management habits! So start today and secure your financial future. That’s all! Happy saving 🙂

Essay on Money Laundering:

Money laundering is a term used to describe the illegal process of concealing the true origins of money obtained through criminal activities. It involves disguising illegally obtained funds as legitimate income in order to avoid detection by law enforcement and financial institutions.

Money laundering has become a global problem, with an estimated $800 billion to $2 trillion laundered annually. In this essay, we will discuss the concept of money laundering, its impact on society, and some measures to combat it.

Origin of Money Laundering

The term money laundering originated from the Italian word “lavare,” which means to wash. It was first used in the 1920s by American gangsters who were involved in bootlegging liquor during Prohibition. These criminals created elaborate schemes to disguise their illegal profits as legitimate businesses or investments.

This facilitated the integration of illicit funds into the legal economy and made it difficult for law enforcement officials to trace the source of these funds. Since then, money laundering has evolved into a sophisticated global crime that involves the movement of huge sums of money across borders and through multiple financial institutions.

Impact on Society

Money laundering has far-reaching consequences for society. It undermines the integrity and stability of financial systems, distorts competition, and facilitates corruption. By allowing criminals to profit from their illegal activities, it perpetuates criminal behavior and poses a threat to national security.

It also has negative impacts on legitimate businesses as they may face unfair competition from those using laundered funds.

Furthermore, money laundering enables criminal organizations to sustain their operations by providing them with access to clean funds for financing terrorism, drug trafficking, human trafficking, and other illicit activities. Ultimately, this has a detrimental effect on the overall economy and society.

Measures to Combat Money Laundering

To combat money laundering, countries have implemented various laws and regulations. The Financial Action Task Force (FATF) is an intergovernmental organization that sets international standards for combating money laundering and terrorist financing.

It conducts regular evaluations of member countries’ efforts in implementing these standards and provides recommendations for improvement. Financial institutions are also required to implement strict know-your-customer (KYC) procedures to identify their customers and verify the source of funds.

Additionally, governments should increase collaboration with law enforcement agencies, financial intelligence units, and other regulatory bodies to share information and intelligence on suspicious activities. This will help in detecting and preventing money laundering activities more effectively.

In conclusion, money laundering is a serious global issue that has significant impacts on society. It is not only a financial crime but also a threat to national security and the integrity of our financial systems. To combat it successfully, there needs to be cooperation between governments, law enforcement agencies, and financial institutions.

Strict laws and regulations must be implemented and enforced, along with proper monitoring mechanisms. Only by working together can we effectively tackle this complex and ever-evolving problem of money laundering. So let us all do our part in preventing this illegal activity and contribute towards building a safer and more transparent world economy for everyone

Essay on Money Plant:

The Money Plant, also known as Devil’s Ivy or Golden Pothos, is a popular houseplant that is loved for its beautiful foliage and easy maintenance. It belongs to the family of Araceae and is native to the Solomon Islands in the South Pacific. This plant has been used in traditional medicine for centuries and is believed to bring good luck and prosperity.

The Money Plant is an evergreen vine with heart-shaped leaves that can grow up to 40 feet in length. Its leaves are glossy and have a marbled pattern in shades of green and yellow. The plant also produces small, white flowers, but they are insignificant compared to its lush foliage. It is often grown as a hanging plant or trained on a trellis for support.

One of the reasons why the Money Plant is so popular is because it can easily adapt to different environments and grow in low light conditions. It also has air-purifying properties, making it a great choice for indoor spaces. The plant is known to remove toxins such as formaldehyde, benzene, and xylene from the air, improving the overall air quality in your home or office.

Taking care of a Money Plant is relatively easy. It requires well-draining soil and moderate watering, making it suitable for people who don’t have a green thumb. The plant can also be propagated easily by stem cuttings, making it an ideal choice for beginner gardeners.

Apart from its aesthetic and health benefits, the Money Plant is also believed to bring financial prosperity. According to Feng Shui, placing a Money Plant in the southeast or east direction of your home can attract wealth and abundance. However, it is essential not to rely solely on the plant for good luck and instead work hard towards your goals.

In conclusion, the Money Plant is not only a beautiful and low-maintenance houseplant but also has cultural and metaphysical significance. Whether you believe in its luck-bringing properties or not, this plant is undoubtedly a great addition to any home or office space.

Essay on Money is not Everything:

Money is a powerful tool that can provide us with comfort, security and luxury. It is often seen as the ultimate goal in life, and people spend most of their time chasing it. However, money is not everything in life. It cannot buy happiness, love or good health. In fact, it can sometimes lead to more problems and conflicts in relationships.

Money can surely buy materialistic things that give us temporary pleasure, but true happiness comes from within. It is not something that can be bought with money. Many people have all the luxuries in the world but are still unhappy and unfulfilled.

This is because they lack strong relationships, a sense of purpose and inner peace. It is important to understand that money can only provide temporary satisfaction, but true happiness lies in the simple things in life like spending time with loved ones, helping others and pursuing our passions.

Moreover, love and relationships cannot be bought with money. True love and genuine relationships are built on trust, respect and mutual understanding.

These cannot be bought with money; they must be earned through sincere efforts. In fact, having too much money can sometimes create power imbalances in relationships, leading to conflicts and even breakups. Therefore, it is important not to let money become the priority in a relationship. Instead, we should focus on building strong and meaningful connections with our loved ones.

Additionally, money cannot buy good health. It may be able to provide access to healthcare facilities and treatments, but it cannot guarantee a healthy mind and body. In fact, people who prioritize money over their health often neglect self-care and face various health issues in the long run. Therefore, it is important to maintain a balance between work and personal life and prioritize self-care. After all, without good health, money becomes meaningless.

In conclusion, money is certainly important in life, but it should not be the sole focus. True happiness and fulfillment come from within and cannot be bought with money. We should prioritize building meaningful relationships, pursuing our passions and taking care of our health over constantly chasing after more wealth. As the saying goes, “money can’t buy everything,” and we must remember that in order to live a truly fulfilling life.

Argumentative Essay on Money:

The topic of money and its role in our lives is a highly debated one. Some argue that money is the root of all evil, while others view it as a means to achieve success and happiness. The truth lies somewhere in between. Money is a necessary aspect of our lives, but it should not be the sole focus or measure of our success.

On one hand, money can provide us with material comforts and opportunities. It allows us to have a decent standard of living, access to education and healthcare, and the ability to pursue our passions. Without money, we would struggle to meet our basic needs and live a fulfilling life. In this sense, money can bring us happiness and satisfaction.

However, the pursuit of money can also have negative consequences. It can consume our lives and lead to greed, materialism, and a constant desire for more. Many people become trapped in a cycle of work and earning just to keep up with societal expectations or to maintain their status.

This relentless pursuit of wealth can lead to neglecting other important aspects of life such as relationships, personal growth, and mental well-being. In this sense, money can become a source of stress and unhappiness.

Moreover, the unequal distribution of wealth in society adds to the complexity of the issue. While some individuals have an abundance of money and resources, others struggle to make ends meet.

This creates a divide between the haves and have-nots, leading to feelings of resentment and inequality. Money can also be used as a tool for power and control, further fueling societal issues such as corruption and exploitation.

In conclusion, money is an important aspect of our lives, but it should not be the sole determinant of our success or happiness. We must strike a balance and prioritize what truly matters to us beyond material possessions. It is crucial to find a healthy relationship with money and use it wisely for our well-being and that of others. Ultimately, true success lies in achieving a fulfilling life rather than accumulating wealth.

Write a high school Essay on Money:

Money is a crucial topic for high school students, especially as they approach adulthood. It plays a significant role in shaping their future and achieving their goals. Money management skills are essential for students to learn at an early age. It helps them understand the value of money, how to earn it, save it and spend it wisely. In this essay, we will discuss the importance of money for high school students and how they can learn to manage it effectively.

Firstly, understanding the value of money is crucial for high school students. Most teenagers have a limited understanding of where money comes from and how hard their parents work to earn it. It’s essential to teach them about earning an income, whether through part-time jobs or chores at home.

This not only helps them appreciate the value of money but also instills a strong work ethic in them. It also teaches them to be responsible for their own finances and not rely solely on their parents.

Secondly, high school students need to learn how to save money. Many teenagers have the tendency to spend impulsively, especially with peer pressure and societal influences. It’s important to teach them the concept of budgeting and saving for future goals such as college or a car.

This will help them develop financial discipline and avoid getting into debt later in life. They can also start small by setting aside a portion of their allowance or earnings each month. This will teach them the value of delayed gratification and long-term planning.

Lastly, high school students should learn how to spend money wisely. With access to credit cards and online shopping, it’s easy for teenagers to overspend and fall into debt. Educating them on the importance of budgeting and differentiating between needs and wants is crucial in making informed financial decisions.

They can also be taught about investment options such as mutual funds or stocks, which can help their money grow over time. This will give them a head start in building their financial future.

In conclusion, money is an important aspect of a high school student’s life and learning how to manage it effectively is crucial for their future success. By teaching them the value of money, saving skills, and wise spending habits at an early age, we can help them become financially responsible adults. It’s never too early to start teaching teenagers about money management as it sets them up for a stable and secure financial future.

Advantages of Money Essay:

Money is something that has been a part of human society for centuries, and it plays a crucial role in our daily lives. In simple terms, money is any object or record that is generally accepted as payment for goods and services and repayment of debts. It can come in various forms such as paper notes, coins, or even digital transactions. In this short essay, we will discuss the advantages of money and why it is such an essential aspect of our society.

First and foremost, money provides a means for people to exchange goods and services. In earlier times, barter system was used for trade where people exchanged goods or services directly with one another.

However, this system had its limitations as it required a double coincidence of wants. With the introduction of money, individuals could now sell their products or services for money and then use that money to purchase other goods or services they needed.

This made trading much more efficient and convenient. Moreover, money also serves as a unit of account, making it easier for people to compare the value of different goods or services.

Money also allows individuals to save and accumulate wealth. With the use of money, people can store their excess income and use it later for future needs such as emergencies or retirement. This provides a sense of security and stability in one’s life.

Additionally, with the help of financial institutions like banks, individuals can invest their money in various sources to earn interest over time and increase their wealth. This creates opportunities for people to improve their financial status and achieve their goals.

Furthermore, money also enables governments to operate and provide essential services to its citizens. Taxes collected from individuals and businesses make up a significant portion of a government’s revenue, which is used for various purposes such as building infrastructure, providing education and healthcare facilities, and maintaining law and order. Without money, it would be challenging for governments to function effectively, leading to a breakdown of society.

In conclusion, money has numerous benefits in our society. It facilitates trade and exchange, allows people to save and invest, and enables governments to operate efficiently for the betterment of its citizens. However, it is crucial to use money responsibly and ensure that it does not become the sole focus of our lives

Essay on Save Money is a Good Habit:

Saving money is an important habit that everyone should develop. It refers to the process of setting aside a portion of your income for future use, rather than spending it all at once. This practice not only helps in meeting unforeseen expenses but also ensures financial stability and security. In this essay, we will discuss why saving money is a good habit and how it can benefit individuals in the long run.

One of the primary reasons for saving money is to prepare for unexpected events. Emergencies such as medical emergencies, job loss, or natural disasters can occur at any time, and having saved money can help in dealing with them without causing financial strain.

Additionally, saving money also helps in achieving financial goals and fulfilling dreams such as buying a house or going on a dream vacation. It provides a sense of security and peace of mind, knowing that there is a safety net in times of need.

Moreover, saving money can also lead to financial stability. By building a habit of saving regularly, individuals can create a cushion for themselves during tough economic times. This habit can help in avoiding debts and living within one’s means. Furthermore, it can also provide the freedom to take career risks or pursue new opportunities without worrying about financial consequences.

In the long run, saving money can also bring financial freedom and independence. By consistently saving a portion of their income, individuals can build a nest egg that can generate passive income in the future. This provides stability during retirement or even allows for early retirement. Additionally, it can also help in achieving long-term financial goals such as starting a business or investing in assets.

In conclusion, saving money is a good habit that can bring numerous benefits to individuals. It not only helps in preparing for unexpected events but also leads to financial stability and independence. Therefore, it is essential to develop this habit from an early age and make it a part of our daily lives.

As the saying goes, “a penny saved is a penny earned,” and by following this principle, we can secure a better future for ourselves and our loved ones. So let us all start saving today! # Keep Saving! Start Saving now!

Essay on Money and Credit:

Money and credit are two fundamental concepts that play a crucial role in our daily lives. Money is a medium of exchange that enables us to buy goods and services, while credit allows us to access funds without having to pay the full amount upfront. In this essay, we will discuss the relationship between money and credit and their importance in our economy.

Money is a universal currency that facilitates trade and commerce. It comes in various forms such as coins, paper notes, and digital currency. Without money, the barter system would still be prevalent where goods were exchanged directly for other goods.

However, this system was inefficient as it required a coincidence of wants between two parties. Money eliminates this problem by providing a common medium of exchange accepted by everyone.

On the other hand, credit is an essential aspect of modern economies as it allows individuals and businesses to access funds for various purposes. It can be in the form of loans, mortgages, or credit cards. Credit enables people to invest in their future by purchasing a house or starting a business without having to save up all the money beforehand. It also provides short-term financing options for emergency situations or unexpected expenses.

Money and credit are closely intertwined as the availability of credit depends on the amount of money in circulation. When there is more money available, interest rates tend to be lower, making it easier for individuals and businesses to access credit. Similarly, a lack of confidence in the economy or a shortage of money can lead to higher interest rates, making it more challenging to get credit.

In conclusion, money and credit are crucial components of our economy. They enable transactions to take place smoothly and provide opportunities for individuals and businesses to invest in their future. It is essential to understand the relationship between money and credit to make informed financial decisions that can benefit us in the long run.

Money is undoubtedly an important part of life. But it is not the only thing. As these essays explain with clear facts and examples, meaning, importance or power of money in life. These essays are written in simple English for high school and college level students to assist them in their exams.

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May 14, 2022 at 12:41 am

Without money and without happiness u can’t live both are very important for a healthy life❤👑

May 21, 2022 at 5:25 pm

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260 Money Topics to Write About & Essay Examples

Looking for a topic about money? Money won’t leave anyone indifferent! There are lots of money essay topics for students to explore.

🏆 Best Money Essay Examples & Ideas

👍 good money essay topics, 💡 easy money topics to write about, 📃 interesting topics about money, 📑 good research topics about money, 📌 most interesting money topics to write about, ❓ research questions about money.

You might want to focus on the issue of money management or elaborate on why money is so important nowadays. Other exciting topics for a money essay are the relation between money and love, the role of money in education, etc. Below you’ll find a list of money topics to write about! These ideas can also be used for discussions and presentations. Money essay examples are a nice bonus to inspire you even more!

• Can Money Buy You Happiness? First of all, given that happiness is related to the satisfaction of personal needs, there is also a need to consider the essential need of human life such as housing, medicine, and food.
• I Don’t Believe Money Can Buy Happiness This shows that as much as money is essential in acquisition and satisfaction of our needs, it does not guarantee our happiness by its own and other aspects of life have to be incorporated to […]
• Connection Between Money and Happiness Critical analysis of money-happiness relationship shows that socioeconomic factors determine the happiness of an individual; therefore, it is quite unsatisfactory to attribute money as the only factor and determinant of happiness.
• Money as a Form of Motivation in the Work Place This then shows that money can and is used as a motivational factor in the work place so that employees can strive to give their best and their all at the end of the day.
• Money: Good or Evil? Comparing & Contrasting While there are those amongst us who subscribe to the school of though that “money is the source of all evil”, others are of the opinion that money can buy you anything, literary.
• Money and Modern Life The rich and the powerful are at the top while the poor and helpless are at the bottom, the rest lie in-between.
• Should America Keep Paper Money It is possible to begin the discussion of the need for keeping paper currency from referring to the rights of any people.
• Does Money Buy Happiness? Billions of people in all parts of the world sacrifice their ambitions and subconscious tensions on the altar of profitability and higher incomes. Yet, the opportunity costs of pursuing more money can be extremely high.
• Strategies to Save and Protect Money Thus, the main points of expenditure will be clearly marked, which will help to exclude the purchase of unnecessary goods and services.
• Money, Happiness and Relationship Between Them The research conducted in the different countries during which people were asked how satisfied they were with their lives clearly indicated the existence of a non-linear relationship between the amount of money and the size […]
• The Global Media Is All About Money and Profit Making It is noteworthy that the advertisement are presented through the media, which confirms the assertion that global media is all about money and profit making. The media firms control the information passed to the public […]
• Anti-Money Laundering and Hawala System in Dubai To prevent money launders and agents, most countries enacted the anti-money laundering acts with the goal of tracking and prosecuting offenders.
• Electronic Money: Challenges and Solutions First of all, it should be pointed out that money is any type of phenomenon which is conventionally accepted as a universal carrier of value, or “any generally accepted means of payment which is allowed […]
• Money Saving Methods for College Students A budget is one of the methods that a college student can use to save money. In the budget, one should indicate how much to save and the means of saving the money.
• Discussion: Can Money Buy Happiness? Reason Two: Second, people are psychologically predisposed to wanting more than they have, so the richer people are, the less feasible it is to satisfy their demands.
• Money or Family Values First? Which Way to Go As such, family values becomes the epicenter of shaping individual behavior and actions towards the attainment of a certain good, while money assumes the position of facilitating the attainment of a certain good such as […]
• Time Value of Money: Importance of Calculating Due to fluctuations in economies, all organizations need to take into consideration concepts of the time value of money in any investment venture.
• Prices Rise When the Government Prints too Much Money Makinen notes that an increase in the supply of money in an economy relative to the output in the economy could lead to inflationary pressure on prices of goods and services in the economy.
• Money Laundering Through Cryptocurrencies This study will try to critique the approaches used by countries to address the aspect of money laundering activities and the risks posed by digital currencies.
• Paper Money and Its Role Throughout History The adoption of the paper money was considered to be beneficial for both the wealth of the country and the individual businessmen.
• Money and Its Value Throughout the World History What is important is the value that people place on whatever unit they refer to as amoney.’ Money acts as a medium of exchange and an element of measurement of the value of goods and […]
• “From Empire to Chimerica” in “The Ascent of Money” In the chapter “From Empire to Chimerica,” Niall Ferguson traces back the history of the Western financial rise and suggests that nowadays it is being challenged by the developing Eastern world. The hegemonic position of […]
• Money, Success, and Relation Between Them In particular, the modern generation attaches so much importance to money in the sense that success and money are presumed to be one and the same thing.
• Money: Evolution, Functions, and Characteristics It acts as medium of exchange where it is accepted by both buyers and sellers; the buyer gives money to the seller in exchange of commodities.
• Efforts to Raise Money for Charity However, the point is that charity is supposed to be for a simple act of giving and not expecting any returns from it.
• Two Attitudes Towards Money The over-dependence on money to satisfy one’s emotional needs is a negative perspective of money. The positive attitude of money is rarely practiced by people.
• Success and Money Correlation The development of the information technologies and the ongoing progress led to the reconsideration of the values and beliefs. It is significant to understand that there is no right or wrong answer for the question […]
• Change in the Value of Money According to Keynes To explain the effect of inflation on investors, Keynes delves into the history of inflation through the nineteenth century and tries to explain the complacency of investors at the beginning of the First World War […]
• Money and Banking: General Information The essay gives the definition of money and gives a brief description of the functions of money. As a store of value, money can be saved reliably and then retrieved in the future.
• Anti-Money Laundering in Al Ansari Exchange Case Study Details Company name: Al Ansari Exchange Headquarters: Dubai, United Arab Emirates Sector: Financial Services Number of employees: 2500 Annual gross revenue: UAED 440.
• Time Value of Money Compounding was done on the amount that I had lent out using the market rate over the duration of time the person held my money.
• The Relationship Between Money Supply and Inflation It is evidenced that changing the money supply through the central banks leads to a control of the inflationary situations in the same economy.
• Money Laundering: Most Effective Combat Strategies The practice of money laundering affects the economy and security of a country. Countries have directed their efforts to curb money laundering to control the downwards projections of their countries’ economies.
• Why People Should Donate Time, Money, Energy to a Particular Organization, Charity, or Cause Its vision is to have a world that is free from Alzheimer’s disease.”The Alzheimer’s Association is the leading, global voluntary health organization in Alzheimer’s care and support, and the largest private, nonprofit funder of Alzheimer’s […]
• Are Workers Motivated Mainly by Money? Related to the concept of work and why people work is the original concept developed by Karl Marx in the so-called conflict theory.
• The Lebanese-Canadian Bank’s Money Laundering The bank was later banned from using the dollar by the American treasury; this resulted in the collapse and eventual sale of the bank.L.C.B.had to pay a settlement fine of one hundred and two million […]
• Money, Happiness and Satisfaction With Life Nonetheless, the previously mentioned examples should be used to remind us that money alone is not a guarantee of happiness, satisfaction with life, and good health.
• Dreams of Avarice in Ferguson’s “The Ascent of Money” The chapter “Dreams of Avarice” of the book “The Ascent of Money” explores different stages of development of money functioning in the world by relating them to corresponding historical events.
• The Ascent of Money: A Financial History of the World The succinctness of this book lies in the critical analysis and emphasis of the financial history of money in spite of the fact it has impeded some important functions of the global economy.
• Exploring the Relationship Between Education and Money A person cannot be able to change his/her ascribed status in the society, but only through education a person is able to change his/her Socio-economic status and to some extent that of his/her family once […]
• Drugs: The Love of Money Is the Root of All Evils The political issues concerning the use of drugs consist of, but not limited to, the substances that are defined as drugs, the means of supplying and controlling their use, and how the society relates with […]
• Saving Money Using Electric or Gas Vehicles The central hypothesis of the study is that the electric car will save more money than gas ones. The main expected outcome that the study is counting on is a confirmation of the presented hypothesis […]
• Blowing Bubbles in Ferguson’s “The Ascent of Money” Moreover, the author shows the connection and similarities between the present collapse of a stock market and the Enron default along with a Mississippi Bubble of the eighteenth century that was created by John Law, […]
• Money and Happiness in Poor and Wealthy Societies Comprehending the motivations for pursuing money and happiness is the key to understanding this correlation. The Easterlin paradox summed this view by showing that income had a direct correlation with happiness.
• Giving Money to the Homeless: Is It Important? The question of whether a person should give money to a homeless person or not is a complicated one and cannot have the right answer.
• Two Attitudes Toward Money Two attitudes toward money involve negative perception of money as universal evil and positive perception of money as source of good life and prosperity.
• “College Is a Waste of Time and Money” by Bird Bird’s use of logical fallacies, like if students do not want to go to college, they should not do it until the reasons of their unwillingness are identified, proves that it is wrong to believe […]
• Sports and Money in Australia Because swimming is a well-developed kind of sports, money should be more spent on engaging new swimmers and promoting new talents to the professional sport.
• Money Laundering Scene in Police Drama “Ozark” In one of the first season’s episodes, Marty, the main character, illustrates the process of money laundering crime. In the scene, one can see that Marty is fully sane and is committing a crime voluntarily.
• Money From the Christian Perspective Work in Christian missions is a business and since it affects the relationship between the missionary and the people he is trying to reach, missionary funding is essential.
• Business Case Scenario: Missing Money in a Company A possible scenario explaining how money is missing is through the payroll department my first argument seeks to prove the payroll department as the loophole of the company’s misfortunes.
• Sports Stadiums’ Funding by Public Money The issue is controversial from an ethical point of view since not all citizens whose taxes can be spent on the construction of the stadium are interested in or fond of sports.
• Money Laundering: The Kazakhgate Case He was accused of breaking the Foreign Corrupt Practices Act of 1974 and money laundering by the U.S.attorney’s office for the Southern District of New York.
• The Ways Terrorists Raise and Move Money Moreover, the government has put into action the freezing orders and blocking of united states individuals who are presumed to have a hand in terrorist activities.
• “Money as a Weapon” System and Fiscal Triad Furthermore, the fiscal triad encompasses the procurement of products and services and the disbursement and accounting of public funding. Fiscal legislation and contracts are two key components of the “money as a weapon” system.
• The Fiscal Triad and Money as a Weapon System The reliance on the unit commanders sparked the development of the complementary strategy, “Money as a Weapon System,” which became a focal point of the Iraq and Afghanistan campaigns.
• Traditional vs. Modern Forms of Money The most significant argument for the continuing existence of traditional forms of money is the impossibility of converting all financial resources into a digital form.
• Time Value of Money: What You Should Know The time value of money is a paramount financial concept, according to which a certain amount is now worth more than the same amount in the future.
• The Concept of the Time Value of Money The concept of the time value of money refers to the financial principle noting that a fixed amount of money currently is worth more than the same amount of money in the future.
• Play Money Paper: A Report Betas of the Companies in the Portfolio It is noteworthy that in the given portfolio, the beta indices of the companies involved vary considerably.
• Integration of Business Ethics in Preventing Money Laundering Schemes The shipping information within the document seems inaccurate with the intention to launder money from the buyer. The contribution of ocean carrier in the transaction process is doubtful to a given extent.
• Where Does the Money Go? by Bittle & Johnson Therefore, the authors explain key issues of the national debt in a relatively simple language and provide their opinion on how the country got into that situation and what could be done about it. In […]
• Trade-Based Money Laundering The purpose of this paper is to research the subject of trade-based money laundering, its impact on global scene and export controls, identify types of trade finance techniques used to launder illegal money, and provide […]
• Impact of Natural Disasters on Money Markets and Investment Infusion of funds from the central bank during natural disasters results in higher process of exports as a direct result of an increase in the value of the local currency.
• The Perception of Money, Wealth, and Power: Early Renaissance vs. Nowadays In the Renaissance period, power was a questionable pursuit and could be viewed as less stable due to more frequent upheavals.
• Financial Institutions and Money Money is a store of value because it can be saved now and used to purchase se goods and services in the future.
• Researching of the Time Value of Money After receiving the loan, one of the monetary policies that would help PIIGS to stabilize is the deflation of their currency, in this case, the Euro.
• Anti-Money Laundering: Financial Action Task Force Meanwhile, given the limited access for physical assessment of state jurisdictions, it is likely that current provisions of FATF are yet to be revised in spite of pandemic travel and assessment restrictions.
• Anti-Money Laundering in the UK Jurisdiction The regime adopted in the UK is based on the provisions of “the Terrorism Act of 2000, the Proceeds of Crime Act of 2002, as well as the Money Laundering, Terrorist Financing, and Transfer of […]
• Trade-Based Money Laundering and Its Attractiveness The proliferation of the trade-based money laundering is directly related to the growing complexity of international trade systems, where new risks and vulnerabilities emerge and are seen as favorable among terrorist organizations seeking for the […]
• Money Laundering and Sanctions Regulatory Frameworks Under the provisions of OFAC, the company has violated the cybersecurity rules that might indirectly bring a significant threat to the national security or the stability of the United States economy by engaging in online […]
• Type Borrowing Money: Margin Lending In the defense of the storm financial planning firm, BOQ submitted to the authorities that in view of banking regulatory policies, storm had not contravened any of the policies and this is the reason why […]
• Lessons on Financial Planning Using Money Tree Software Financial planning remains a fundamental function among the investors in coming up with a method of using the finances presently and in the future.
• The Supply of Money in the Capitalist Economy In the capitalist economy that the world is currently based on, the supply of money plays a significant role in not only affecting salaries and prices but also the growth of the economy.
• Time Value of Money Defined and Calculations Simply put, the same value of money today is worth the same value in future. The time value of money can therefore be defined as the calculated value of the money taking into consideration various […]
• Anti Money Laundering and Financial Crime There are a number of requirements by the government on the AML procedures to be developed and adopted by the firms in the financial service in industry in an attempt to fight the illegal practice.
• Money Tree Software: Financial Planning This return is important because: It represents the reward the business stakeholders and owner of the business get in staking their money on the business currently and in the future It rewards the business creditors […]
• Money Management: Investment on Exchange-Traded Funds The essay will discuss the possibility of investing in a number of selected ETFs in connection to an investment objective of an individual.
• What Is Money Laundering and Is It Possible to Fight It Certainly and more often money involved in laundering is obtained from illegal activities and the main objective of laundering is to ‘clean’ the dirty money and give it a legitimate appearance in terms of source.
• Time Value of Money: Choosing Bank for Deposit The value of the money is determined by the rate of return that the bank will offer. The future value of the two banks is $20,000 and $22,000 for bank A and bank B respectively.
• How Money Market Mutual Funds Contributed to the 2008 Financial Crisis While how the prices of shares fell below the set $1 per share was a complex process, it became one of the greatest systemic risks posed by the MMMF to the investors and the economy […]
• Time Value of Money From an Islamic Perspective Islamic scholars say that the time value of money and the interest rates imposed on money lent are the reasons why the poor keep on getting poor and the rich richer.
• Rational Decision Making: Money on Your Mind The mind is responsible for making financial decision and it is triggered by the messages we receive on the day to day activities. Lennick and Jordan explain that, we have two systems in the brain; […]
• A Usability Test Conducted on GE Money.com.au It is common knowledge that the easier it is to access services and products on a given website the more likely users will be encouraged to come back.
• “Most Important Thing Is Money Ltd”: Vaccination Development Thus, necessary powers have been vested with the Secretary of State for Health in England, through the recommendations of the Joint Committee on Vaccinations and Immunisation to enforce such preventive steps, through necessary programs that […]
• Money Investments in the Companies and Bonds The stock volume is on the low level now, about 30, but it is connected with the crisis in the world and the additional investment may support the company and increase it. In general the […]
• Money Management in the Organization There is a much debate on the issue and several people an financial experts do analyze the historical perspectives of the Active vs Passive money management.
• How the Virus Transformed Money Spending in the US In the article featured in the New York Times, Leatherby and Geller state that the rate at which people spend their money has rapidly decreased due to the emergence of the virus in the United […]
• The Role of Money and Class Division in Society The image of modern American society tries in vain to convey the prevalence of personality over social division. Americans’ perception of financial status has been shaped for years by creating the notion of the “American […]
• Money and American Classes in 1870-1920 Wherein, the time of the stock market emergence was the time of the ongoing “carnival,” where the mystical power of money transferred to miraculous products and medicines and compelling advertisements.
• The Ascent of Money – Safe as Houses Looking from a broad historical perspective, Niall Ferguson devotes the chapter “Save as Houses” to the observation of the real estate concept transformation, describes the place of the real estate market in the economic systems […]
• The Ascent of Money – Blowing Bubbles The price for a share tells how much people rely on the cost of the company in the future. The life of a stock market represents the reflection of human moods on the price of […]
• Canada’s Role in the History of Money: The Relationship Between Ownership and Control Individuals with the predominant shares gain the directorship of the wealth production channels and as such gain control of the diversified owners.
• Why Non-Monetary Incentives Are More Significant Than Money It is important to recognize that both monetary and non-monetary incentives, otherwise known as total rewards, are offered to employees in diverse ways for purposes of attracting and motivating them to the ideals of the […]
• To Make Money or Serve the Society? However, when the issue of the corporation to serve the society arises, then it kind of compromises the main focus of the corporation, which is to make money. These have been the major causes of […]
• Money Role in Macro Economy The dollar is till now the most accepted currency in the world and this dollar fluctuation that has been caused by the worst recession in American history since the time of the Great Depression is […]
• Organizational Communication & the “Money” Aspect While the use of this information is critical for both ensuring survival of the organization and being a frontrunner in its strategies for the future, there are large boulders in use of this information effectively, […]
• Tax Money Usage on Military Spending Issue The fact that America won the Cold War and defeated the Soviets is taken as a vindication by the American leaders of the need to continue military spending.
• Money Makes You Happy: Philosophical Reasoning It is possible to give the right to the ones who think that money can buy happiness. This conclusion is not accepted by psychologists who think that wealth brings the happiness only in the moment […]
• “Who Says Money Cannot Buy Happiness” by Lee Investment is a production process for will it bring about goods and services that can be sold to the market and in the process, the owner of the business makes some profit.
• Technical Analysis as Active Money Management Method Technical analysis is the financial markets methodology that asserts the capability to foretell the probable course of security charges by the means of past market data study, principally price and volume.
• Spare Change: Giving Money to the “Undeserving Poor” To address the central theme of the article, one need to delve deeper into the psyche of giving alms and money to the poor people we meet on the street.
• The Use of Money in Business Practices Money is seen as the cause of problems and especially in the minds of emerging market respondents. Through this they can pick up groceries for the old in their neighborhood and make money from this.
• Money Laundering and Terrorist Finance However, the balance money after the sham gambling is transferred to another ordinary bank account, thereby creating a legal status for the laundered money as if it has come from gambling and will be employed […]
• City Planning. Too Much Money: Why Savings Are Bad The scenario is that the expected growth in economies where the rate of savings is high has not shown a corresponding increase in growth rate also.
• Debates in Endogenous Money: Basil Moore The value of the currency was determined by the value of the precious metal used to mint the currency. From the time Federal Reserve took control of money and credit, economic consistency is attained by […]
• Money and Banking. Financial Markets The essay will examine the essence and the importance of the above-mentioned financial phenomena and see how their interrelation, especially in the negative context, can influence the state of things in society.
• Money and Justice: High-Profile Cases It is estimated that thousands of persons bracketed in the ‘poor’ sector of society go to jail annually in the United States without having spoken to a lawyer.
• Relation Between Money and Football In the English league, clubs have been spending millions to sign up a player in the hope that the player will turn the fortunes of the company for the good.
• Accounting for Public Money After Railway Privatization There were very many problems prior to the railway privatization in 1990.one of the problems that led to the privatization of the railway line in the UK was the misappropriation of taxpayers’ money.
• Time Value of Money and Its Financial Applications The time value of money refers to the idea that money available at the present time is worth more than the same amount in the future, due to its potential earning capacity.
• Time Value of Money in Examples Therefore, re-purchase of the shares appeals to the managers of the company because it will allow the company uses the money to regenerate more money for the purpose of repurchase the shares in the future.
• Wall Street Managers: The Art of Making Money In the end, the goal of Wall Street managers is to ensure optimal returns in all of their investments. The evolution of Wall Street managers is etched in the history of financial markets.
• Money Laundering in the USA and Australia The International Money Fund has established that the aggregate size of money laundering in the World is approximately four percent of the world’s gross domestic product.
• Locke’s Second Treatise of Government and Voltaire’s Candide’s Value on Money Both written at a time when philosophers had started questioning the relevance of capitalism and the concept of wealth creation, it is evident that the two authors were keen on explaining the power of money […]
• The Concept of Money Laundering The first issue I have learned is that the main problem lies in the presence of Big Data that includes trillions of transactions of various financial organizations and systems.
• Fraud, Money Laundering, and Terrorism Financing After the audacious attack by Al-Qaeda and the destruction of the Twin Towers on 11th of September 2001, terrorism was declared the number one enemy to the peace and stability of the modern world.
• Time Value of Money – Preparing for Home Ownership The purchase price of the house is determined by using the following formula in Excel. 66 The down payment is 20% of the future value of the house, i.e, $40,278.13.
• Martin Van Buren: Money and Indian Relocation One of the reasons for such collaboration and understanding is the focus on the values we have. I believe this path will bring us to the land we all would like to live in.
• The General Theory of Employment, Interest and Money Money is a determinant of the propensity to consume; hence, the more money one makes, the more that he or she consumes and the converse is the case.
• The Practice of Saving Money Knowledge of the language is also a very crucial component of EAP as it aids the learner in understanding questions and responding to them in their examinations.another differentiating factor between the two varieties of English […]
• Money Market and Value-Based Pricing Consequently, the GDP can be defined by the equation: Y=C+I+G+NX where: Y= Total GDP, C=Consumption by household, I=Investment, G=Government expenditure, NX=Net Exports Net Domestic product entails the reduction of the GDP by the depreciation of […]
• How Money Markets Operate? Furthermore, only free markets have shown the resilience that is necessary to accompany the fluctuations in demand and supply of the money markets.
• Access Right to Money: Sculpture Theft Among the suspects, there are those in dire need of the money due to financial problems, while others need the values worth of the item and not the actual monetary price attached to the item.
• History of Money in Spain The production of coins melted from gold also ceased in the year 1904, with the production of that melted from silver ceasing in the year 1910.
• Money Flows and Financial Repression in the US and China From the article, the authors depict how the interest rates in developed countries like the United States compare with those of the emerging markets such as China, India, and Brazil.
• Management: “Marketplace Money” and “Undercover Boss” In this case, the accents are made on the support of the healthy workforce in order to guarantee the better employees’ performance and on the idea of rewards as the important aspects to stimulate the […]
• Money Compensation for Student-Athletes Besides, sports are highly lucrative for colleges, and students whose labor brings the revenues should share the part of them not to lose the interest in such activities.
• Chapters 1-3 of “Money Mechanics” by David Ashby The retained amount of money in the commercial bank is the primary reserve. The banks can decide to reduce their working reserve, and the money obtained is transferred to the excess reserve fund in accounts […]
• Banking in David Ashby’s “Money Mechanics” Changes in prices may not have a direct effect on the gross domestic product and the planned expenditures because this is determined by the money that is in supply. This causes the GDP and prices […]
• Karl Marx on Commodities, Labor, and Money Division of labour is very important in the production of commodities. The use-value of each commodity contains useful labour.
• The UAE Against Money Laundering and Terrorism Financing This valuation of the anti-money laundering and combating the financing of terrorism government of the United Arab Emirates is founded on the forty endorsements and the nine special commendations on extremist supporting of the monetary […]
• UAE Anti-Money Laundering Laws and Their Benefits The legal maintenance of counteraction to the legalization of criminal incomes is carried out by means of a system of laws and regulations, controlling financial, bank, and customs relations and establishing the order of licensing […]
• Money, Their Features, Functions and Importance The first hindrance is the inability of the household to monitor the activities of firms. In this case, it is used to state the value of debt.
• Happiness Without Money in Sociology and Psychology The tendency’s mechanics are simple – being in the possession of any substantial sum of money increases a person’s chance to secure a dominant status within the society, which in turn will result in strengthening […]
• Money Market Development Factors The money market is one of the fundamental elements in the functioning of any state. Under these conditions, the gradual rise of technologies and their implementation in the sphere of financial operations alter the money […]
• “God’ Money is Now My Money” by Stanley Seat It could be said that different priorities and the lack of time for supervision of the employees are the critical reasons for the violation of rules and high frequency of fraud in the religious institutions […]
• International Money Laundering Thus, money laundering has a profound impact on the state of the global economy, as well as on the economy of the U.S.
• Cybercrime and Digital Money Laundering The result of the investigation was the indictment of Western Express and a number of the company’s clients for several charges including stolen credit card data trafficking and money laundering.
• Hawala Remittance System: Anti-Money Laundering Compliance The existence and operation of money remittance systems is one of the primary features of developing economic relation at all scales from local to the global ones.
• Time Value of Money in Economies of Scale Also, the investigation of the VoF becomes easier by means of scrutinizing the tradeoff between the TVM and the EoS. The TVM is also employed to reach the integration of infrastructure investment valuation and risk […]
• Time Value of Money in Investment Planning The author of the post makes a good point that an amount of money is worth more the sooner it is received.
• David Leonhardt: May Be Money Does Buy Happiness After All The case study of Japanese citizens that support Easterlin paradox do not factor in the confounding psychological effects of the Second World War on the entire population and the country.
• Illegal Drug Use, Prostitution and Money Laundering Upon discussing the impact of money laundering, illegal drugs, and prostitution, the paper proposes the issuing of a court order restraining the use of wealth acquired from victimless crimes as one of the approaches to […]
• Getting Beyond: Show Me the Money Nevertheless, underpayment and overpayment are common, leading to dissatisfaction. Notably, compensation is part culture, but analytics will gain traction in the big data era, as start-ups leverage such advantages from experts to manage a sales […]
• Space Programs: Progress or Waste of Money? According to Ehrenfreund, the ingenuity to develop technologies and work in space is part of the progress that comes from space programs. Space programs have led to the development of technologies that improve air transport.
• “The Money Machine: How the City Works” by Coggan The media plays a chief role in educating the public concerning the various financial matters that affect the undertakings of the City.
• Money Evolution in Ancient Times and Nowadays In the means to defining what money is, most of the scholars from the psychological and physiological field have come up with the theoretical aspects of money and the ways it influences the economic growth […]
• Fraud and Crime Theory in the “Black Money” Movie The movie shows the irregularities involved in the acquisition of arms for the Saudi government. The movie is a perfect display of the international crimes and financial fraud that has been on the rise in […]
• Mercantilism, Stamped Money, and Under-Consumption It is paramount to note that he criticizes ideas of Ricardo quite frequently, and he believed that he did not consider the ideas that were suggested by other prominent economists.
• Money Evolution in the 21st Century and Before The history of the world cannot be described effectively without identifying the function of money. Money has been used to measure the value of resources and financial markets.
• Financial Crisis in Ferguson’s “The Ascent of Money” By Ferguson, the main purpose of the historian is to relieve humanity from the financial illusions on the examples of the past.
• Monetary Policy in “The Ascent of Money” by Ferguson
• The Airtel Money Service: Indian and African Paths
• Money History, Ethical and Social Standarts
• World Money History in the 20th Century and New Objects of Value
• Locke’s Work on Interest and Value of Money
• Money in the “Sheriff of Cape Breton” Case Study
• Medieval England in “Treatise on the New Money”
• Treatise on the New Money: Document Analysis
• Human Bondage in Ferguson’s “The Ascent of Money”
• Money History, Bonds, Market Bubbles, and Risks
• Park Avenue: Money, Power and the American Dream
• Deflation in the Quantity Theory of Money
• Money, Its Purpose and Significance in History
• “Who Stole the Money, and When?” by Greenberg
• Money History From the Middle Ages to Mercantilism
• Money Development From 600 BC to Nowadays
• Money Development and Its Stages in World History
• Market Society in “What Money Can’t Buy” by Sandels
• Employee Theft in “Who Stole the Money, and When?”
• European Union Anti-Money Laundering Directive
• Park Avenue: Money, Power and the American Dream – Movie Analysis
• T-Shirts “SENIOR 2016” and Time Value of Money
• Time and Money in “Neptune’s Brood” by Charles Stross
• Virgin Money Company’s Business Model in Canada
• Money in History and World Cultures
• Is College Education Worth the Money
• Artworks Comparison: Les Demoiselles d’Avignon and Tribute Money
• Weddings, Marriage, and Money in the UAE
• Money and Happiness Connection – Philosophy
• “Art for Money’s Sake” by William Alden
• Money’s and Banking’ Concepts
• Central Bank of Bahrain and Money Supply Regulation
• Why Money Is Important: Benefits & Downsides
• Psychological Research: Money Can Buy Happiness
• Finance: The History of Money
• Finance in the Book “The Ascent of Money” by Niall Ferguson
• Criminal Law: Blood Money From the Human Organs Sale
• Money as an Emerging Market Phenomenon
• Cyber-Crime – New Ways to Steal Identity and Money
• The Case of Stolen Donation Money
• Money and Banking: The Economic Recession of 2007
• Money and Banking: David S. Ashby’s Perspective
• Christian Moral Teaching and Money
• Money and Capital Markets: Turkey, India and China
• Money and Capital Markets: Central Banks
• Anti Money Laundering and Combating the Financing of Terrorism
• Mobile Money Transfer as an Alternative Product for Vodafone Group Plc
• UK and USA During the Period 2000-2010: Consumer Price Index, Unemployment Rate, Money Supply and Interest Rate
• Money Mechanics in the U.S.
• Money and Markets vs. Social Morals
• Money Laundering In Saudi Arabia
• Inflation Tax – Printing More Money to Cover the War Expenses
• Banks and the Money Supply
• Money Mechanics in Banks System
• Money Laundering In Russia
• Money and Work Performance
• Money Supply and Exchange Rates
• Mobile Money Transfer Service
• Central Banking and the Money Supply
• The Different Roles Played By the Central Bank, Depository Institutions, and Depositors in the Determination of Money Supply
• Jean-Jacques Rousseau and Karl Marx: The Role of Money in Human Life
• How Saudi Banks Deal With Money Laundery
• The Ascent of Money
• Niall Ferguson’s ‘The Ascent of Money’
• Role of Money in the American Dream’s Concept
• Money, Motivation and Employee Performance
• Money and Commodity Circulatory Processes
• Opinion on the Importance of Money
• Motivate Your Employees produced by BNet Video for CBS Money Watch
• We Should Use Tax Money to Enforce Mandatory Drug Treatments on Drug
• The World Surrounded by Money
• The World of Money
• Edwin Arlington Robinson: Money and Happiness in “Richard Cory”
• Federal Reserve; Money and Banking
• Ways to Spend Money in Saudi Arabia
• Sports Industry: Morality vs. Money
• Making Money on Music: The Company That Has to Stay Afloat
• Federal Reserve and the Role of Money in It
• What Do Money and Credit Tell Us About Actual Activity in the United States?
• What Influence Does Money Have on Us Politics?
• Can Money Change Who We Are?
• Does Government Spending Crowd Out Donations of Time and Money?
• Does More Money Mean More Bank Loans?
• Are Corporate Ceos Earning Too Much Money?
• Did the Turmoil Affect Money-Market Segmentation in the Euro Area?
• How Appealing Are Monetary Rewards in the Workplace?
• How Does Inflation Affect the Function of Money?
• Can Banks Individually Create Money Out of Nothing?
• Are Credit Cards Going to Be the Money of the Future?
• Does Money Protect Health Status?
• Can Cryptocurrencies Fulfill the Functions of Money?
• What Tools Used by the Federal Reserve to Control Money Supply?
• Are Athletes Overpaid Money Professional Sports?
• Does Electronic Money Mean the Death of Cash?
• What Does Motivate Employees and Whether Money a Key?
• What Are the Three Functions of Money?
• Are Gym Memberships Worth the Money?
• Does Broad Money Matter for Interest Rate Policy?
• Does Money Help Predict Inflation?
• Does One’s Success Depend on the Amount of Money a Person Earns?
• How Does Federal Reserve Control the Money Supply?
• Does Interest Rate Influence Demand for Money?
• Does Commodity Money Eliminate the Indeterminacy of Equilibria?
• Are College Degrees Worth the Money?
• Can Money Matter for Interest Rate Policy?
• How Banks Create Money and Impact of Credit Booms?
• How Can Virtualization Save Organization Money?
• Can Money Diminish Student Performance Disparities Across Regions?
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Home — Essay Samples — Economics — Money — Saving Money: Approaches and Importance

Saving Money: Approaches and Importance

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Published: Sep 5, 2023

Words: 714 | Pages: 2 | 4 min read

Table of contents

1. approaches to saving money, 2. the importance of saving money, 3. balancing saving and spending, 4. cultivating a savings mindset, conclusion: a secure and fulfilling future.

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Money Essay | Importance and Benefits of Money Essay in English

Money Essay: Money is a vital wellspring of everyday routine to experience a solid and satisfying life, despite the fact that it can not measure up to adore and mind. Both have their own significance and benefit. We are giving articles on Money to partake in a paper composing contest in basic and basic words here.

Money is the medium utilized by individuals to purchase required labor and products. It is utilized as the source to satisfy fundamental requirements and is additionally a wellspring of solace throughout everyday life. Money is the main source to carry on with a sound and prosperous life; nonetheless, it couldn’t measure up to the meaning of affection and care. Both have their own significance and advantages. By the way, Money is a helpful and important product to live cheerily arranging all your standard liabilities towards your family and friends and family.

You can read more  Essay Writing  about articles, events, people, sports, technology many more.

Short Essay on Money 300 Words in English

Money is the fundamental need of life, without which nobody can envision a sound and tranquil life. We need money to satisfy our littlest needs. In present-day times, when progress is growing quickly and everybody is following western culture, in such a period, we need more money because of expanding merchandise. On prior occasions, there was training called trade framework, in which anybody would get another thing in return for a certain something. In any case, presently in this advanced world, just Money is expected to purchase everything or thing. it happens.

These days you need Money for each work, for garments, for food, for a safe house and surprisingly in numerous spots you need to pay for water. Despite the fact that it can likewise be said that ‘Money can’t give joy’s yet would you be able to be content with no Money? Since Money is a major piece of our life, at any rate you need Money to be content.

The significance of Money is expanding step by step, in light of the fact that our living has gotten over the top expensive. The significance of Money has expanded for a huge scope in the fields of creation, utilization, trade, circulation, public income and so on It assumes a vital part in deciding pay, work, continues partnership, general value level and so on On the off chance that we take a gander at the present-day situation, there is no uncertainty that he, who has a lot of riches, is viewed as more cultivated on the planet. Consequently, we can say that Money is vital in each part of life.

Importance of Money

Money is a fundamental thing throughout everyday life. In any case, it can’t accept things like time, love and genuine consideration. It can just satisfy the outer requirements of an individual and not the interior necessities like love. These days, everything has gotten costly yet getting them is vital to carry on with basic life. In the event that we don’t have money, nobody can envision the reality of how our circumstances will be.

The demise of an individual is sure because of the absence of Money and on the off chance that he endures, he experiences to confront numerous difficulties. Abundance empowers us to purchase every one of the essential things and helps us for the duration of our life. In the event that we comprehend the significance of Money throughout everyday life, we won’t ever go through Money with no reason or abuse. We can’t look at Money and love, in light of the fact that to carry on with a fruitful life we ​​need both Money and love.

In this cutthroat world, to bring in Money by finding a decent line of work, everybody needs to concentrate well with advanced education from a notable school or college. An individual needs to bring in more money to satisfy the prerequisite of the relative multitude of individuals in the family, particularly for the individual who is the lone worker in the family.

An individual necessities Money to address the issues of all his relatives to eat, wear, and live. The rich have an uncommon personality and notoriety in the general public, be that as it may, the needy individuals spend their lives just getting two suppers per day. Every one of these progressions and contrasts are because of Money as it were.

In any place where there is a shortage of money in the house, there are a lot of struggles. There are squabbles among a couple. Neither does anybody regard each other in the case of bringing in Money. Neighbors and family members likewise peer downward on the destitute individual. He begins cutting her reasoning that the individual never requests Money from her. With this, nobody needs to get to know a destitute individual in the present time.

Money can neither purchase nor stop time nor purchase genuine romance and care together. Yet at the same time it is needed by all, so life can be taken in the correct way. Despite the fact that Money can’t give time and love, it certainly gives us bliss, certainty, fulfillment, physical and mental harmony. Because of which we can carry on with life effectively and each troublesome issue can be settled.

Advantage from Money

You can carry on with a conscious life: An individual is regarded just when he is monetarily prosperous. Something else, in the present society, the bankrupt individual has no regard.

Unadulterated and nutritious food can be eaten: The individuals who have abundance can appreciate an assortment of heavenly and nutritious dinners. What’s more, they can shield themselves from sicknesses.

Your assurance should be possible: In the present society, burglary, theft have expanded a great deal and rich individuals can give security to themselves because of Money.

The credit is repayable: Obligation taken from an individual rich individual can reimburse the credit without any problem.

The happiness regarding material delights can be achieved: With an adequate measure of riches, all material solaces can be appreciated like taking a decent house, great garments, vehicles and different things.

FAQ’s on Money Essay

Question 1. What is the requirement for money?

Answer: The main capacity of cash is to fill in as a mechanism of trade. As a mechanism of trade, cash addresses every one of the troubles of the deal. There is no need for a twofold fortuitous event of needs in a cash economy.

Question 2. What are the benefits of money?

Answer: Having money with you gives you a respectful life, you can have a healthy and nutritious life, you can pay your loans, have a luxurious life, etc.

Question 3. How can we earn money?

Answer: There are a number of ways to earn money such as;

• You can be an employee in a company
• You can start your own business
• You can be an entrepreneur
• You can use social media channels to provide your service

Essay on Money in English for Children and Students

Table of Contents

Essay on Money: Money is the medium used by people to buy required goods and services. It is used as the source to fulfill basic needs and is also a source of comfort in life. Money is the most important source to live a healthy and prosperous life; however, it cannot be compared with the significance of love and care. Both have their own importance and benefits. Nevertheless, money is a useful and necessary commodity to live contentedly disposing all your usual liabilities towards your family and loved ones.

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Long and Short Essay on Money in English

We have provided some simply written essay on money to help your kids to do better in their essay writing competition.

These Money Essay are written in easy English so that student of any class can easily understand it and also reiterate it or write it down, whenever required.

We have divided following essays under long and short essay on money in English according to the need, to help your kids to do better in their school competitions.

These essay on money will prove useful in your school assignments or general discussion with your family and friends.

Money Essay 1 (100 words)

Money is the most basic requirement of the life without which one cannot fulfill his basic needs and requirements of the daily routine. We can never compare the importance of the money with the importance of love or care. When one need money, love cannot fulfill this requirement and if one need love, money cannot fulfill this requirement.

Both are highly required for the healthy life but they have their significance and importance separately. Both are required by us on urgent basis so we cannot rank both on the same scale. We need money everywhere such as to eat food, to drink water or milk, to see TV, news, subscribe newspaper, wear clothe, get admission and many more requirements.

Money Essay 2 (150 words)

Money is the basic requirement of the life without which one cannot imagine a healthy and peaceful life. We need money even buying a little needle. In the modern time, where growth of civilization is going very fast and following western culture, we need more money because of the increasing prices of everything. Earlier there was a system called barter system in which one was allowed to exchange things to get goods however, in the modern one need only money to buy everything.

The importance of money is increasing day by day as the living has become so costly. The significance of money has increased to a great extent in the field of production, consumption, exchange, distribution, public finance and etc. It plays a very crucial role in determining the input, income, employment, output, general price level of anything, etc.

Money Essay 3 (200 words)

In such a costly and competitive society and world, no one of us can live without money. We need money to fulfil our basic needs of the life such as buying food, and other many basic necessities of life which are almost impossible to buy without money. People in the society who are rich and have property are looked as honourable and respectful person of the society however a poor person is seen as hatred without any good impression.

Money increases the position of the person in the society and gives good impression to him. All of us want to be rich by earning more money through good job or business in order to fulfil all the increasing demands of the modern age. However, only few people get this chance of completing their dreams of being a millionaire.

So, money is the thing of great importance all through the life. Money is required by everyone whether he/she is rich or poor ad living in urban areas or rural areas. People in the urban areas are earning more money than the people living in backward or rural areas as the people of the urban areas have more access to the technologies and get more opportunity because of the easy sources.

Essay on Jan Dhan Yojana

Money Essay 4 (250 words)

Money is very much required thing in the life however; it cannot buy things like time, love and true care. It can only fulfil the outer needs of the person and not the inner needs like true love. Now-a-days, everything has become so costly but necessary to buy for living a simple life. And what if we have no money, either we would die or suffer more if saved.

Money has capability to buy anything virtually and helps us a lot throughout the life. By taking the importance of the money in our life we should never destroy or waste the money without any purpose. We should not compare the money and love because both are required separately to run a successful life.

In this competitive world, everyone wants to get good study with higher education from the popular college and university to get good job in order to earn more money. A person needs more money to fulfil the requirement of the all members of the family especially one who is only working person of the family.

He or she needs to fulfil the eating, clothing and living requirements of the family members and for that money is required. Rich people of the society are given particular recognition and popularity however poor people live their life by arranging just food for two times a day. All the changes and differences are just because of the money.

Money Essay 5 (300 words)

Money is really a very important thing for the human beings to lead their life in the satisfactory way. Unlike animals and plants, we need more money everywhere. In order to live in the society, we need to maintain our status and position in the society for which we need money. In order to eat food or drink water, wear cloth, get admission to the school, take medicine or go to the hospital and other many activities we need lots of money. Now the topic arise is, where we got such required money. We need to get higher level study and do hard works to get good job or open our own business which requires more skill and confidence.

Earlier the condition of poor people was very poor because of the pressure of the rich people. They were not helping the poor people and use them only as a servant on the very low salary. However the condition of the poor people has become good as the rule and regulations of the government as been change in order to equalize the condition of both. Now everyone has equal rights to study higher and get good job. Many people understand that money is the origin of the evil in the mind however I do not think so because thinking is the process of human mind and not the creation of money.

I understand and believe that money is the most important key of happiness gifted by the God. It is the human mind to take anything in different ways. Some people take it only to fulfil their physical needs and they never take it heartily however some people understand everything to the money and they can do anything for getting the money such murder, corruption, underworld work, smuggling, promoting bribe, etc.

Money Essay 6 (400 words)

There is no any doubt that money is so essential for our healthy living. Money is almost everything for us to live a life and maintain the good stats in the society. It is the money which fulfils the need of bringing necessary comforts and amenities of the life. If one has money, he/she can get anything in his/her life. It is the money which helps us in developing good personality, improving confidence, makes us able to creditworthiness, improving capacity, increasing capabilities and enhancing our courage to a great level. Without money we feel helpless and alone in this world where no one is ready to help and assist. In the current materialistic world, money is very important and powerful thing without which one cannot live and survive.

Now-a-days, in order to earn more money in wrong ways, bad people are taking help of corruption, bribe, smuggling, murder rich people of the society, and other callous activities by degrading the moral and ethical values of the humanity. Lazy people follow wrong ways to earn money as they understand that these ways are simple and easy however it is not true. One can earn more money in less time and effort but not for long; surely he would be lost in the near future as he is following wrong and weak way. The people who are earning money by following all the rules of humanity earn less money but for long time and they become the high status personality of the society.

People doing corruption save their money as a black money in other countries to keep hidden from the common public and use that money for bad works or increasing their physical luxury. However, common people of the society respects a lot to the people earning money using wrong techniques as they have fear of them and little bit greediness that they can get some money in return whenever required by giving them respect. They are generally called as the bhai or dada or don. Money cannot buy or stay the time as well as cannot give true love and care however highly required by all of us to run the life on the right path. It cannot give time and love however gives happiness, confidence, satisfaction, feeling of well being mentally and physically, makes life easy by solving all the difficulties, and many more.

All the essays on money given above are written by the professional content writer to help students in getting fulfilled their needs and requirements. Essay on money is generally assigned to the students to write something in their own way. Money essay is given under the category of general essay.

Frequently Asked Questions on Money

Who found money.

Money, in various forms like barter or trade, has existed since ancient times. The first coined money is believed to have been created by the Lydians, in what is now Turkey, around 600 BC.

Who said money is life?

This specific quote isn't attributed to a singular famous person. Various interpretations and contexts might exist, but the idea that money plays a significant role in many aspects of life is widely acknowledged.

What is money quotes?

A popular quote about money is, Money can't buy happiness, but it certainly helps.

What is the nature of money?

The nature of money is abstract. It has no intrinsic value but is accepted as a medium of exchange. Its value is determined by trust and the backing of an authority, like a government.

What is the value of money in life?

The value of money in life goes beyond purchasing power. It provides security, freedom, and opportunities, but isn't the sole determinant of happiness or success.

What is the importance of money?

Money is essential as it enables trade, provides financial security, meets daily needs, and offers the potential for a better life. It's a measure of one's ability to afford services and products.

What is money in own words?

Money is a tool that facilitates trade, allowing us to purchase what we need or desire. It represents value and can be saved, spent, or invested.

What is the few lines on money?

Money is a medium of exchange, used to buy goods and services. It acts as a unit of account, a store of value, and is universally accepted in transactions.

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Nicholas Kristof

The Case for Saying ‘I Do’

By Nicholas Kristof

Opinion Columnist

With little notice, the United States may be crossing a historic milestone in family structure, one that may shape our health, wealth and happiness.

Historically, most American adults were married — more than two-thirds as recently as 1970. But the married share has crept downward , and today only about half of adults are married. Depending on the data source, we may already have entered an epoch in which a majority are not married.

“Our civilization is in the midst of an epochal shift, a shift away from marriage,” Brad Wilcox, a sociologist who directs the National Marriage Project at the University of Virginia, writes in his new book, “ Get Married .” “In place of marriage, many Americans are remaining single or simply living together without wedding rings. And to be clear, it’s more of the former than the latter.”

Wilcox believes that perhaps a third of today’s young Americans will never marry. As a long-married romantic myself, I find that troubling, but it’s not just soggy sentimentality. Survey data indicates that married couples on average report more happiness, build more wealth, live longer and raise more successful children than single parents or cohabiting couples, though there are plenty of exceptions.

“Fixing what ails America starts with renewing marriage and family life, especially in poor and working-class communities where the fabric of family life is weakest,” Wilcox argues.

He’s up against a counter view that one should dodge family responsibilities, relish freedom and play hard. Many boys and men flock to the online rantings of Andrew Tate , the misogynistic influencer facing human trafficking charges, who has argued, “There is zero advantage to marriage in the Western world for a man.”

Some women have likewise celebrated freeing themselves from an institution that often shackled them to cooking, laundry and second-class status at a cost to their careers. As women have enjoyed more economic opportunities, they’re less often forced to marry some oaf who gets violent after a few drinks — and, anyway, what self-respecting woman with independent means would want to marry, say, a fan of Andrew Tate?

Yet even as marriage has receded, the evidence has grown that while it isn’t for everyone, in many cases it can improve our lives more than we may appreciate.

“Marriage predicts happiness better than education, work and money,” Wilcox writes. For example, survey data indicates that getting a college degree increases the odds of describing oneself as “very happy” by 64 percent. Earning a solid income lifts the odds by 88 percent. Being “very satisfied” with one’s job raises them by 145 percent. And marriage increases the odds of being very happy by 151 percent — while a “very happy” marriage boosts the odds by 545 percent.

I’ve long been interested in family structure for two reasons. First, I believe the left made a historic mistake by demonizing the Moynihan Report, which 59 years ago this month warned about the consequences of family breakdown. Daniel Patrick Moynihan was prescient, for we now know that households headed by single mothers are five times as likely to live in poverty as those with married couples.

Second, loneliness and social isolation are growing problems. One poignant example: Perhaps 100,000 or more dead bodies in America go unclaimed each year, often because there are no loved ones to say farewell. It’s a topic explored in another recent book, “The Unclaimed,” by sociologists Pamela Prickett and Stefan Timmermans.

Marriage doesn’t solve loneliness and social isolation, but it helps. And there is good news on the family front: The divorce rate has dropped to a 50-year low , and the share of children raised in an intact family with married parents has increased slightly in recent years. Today about 51 percent of American kids reach adulthood with the same two parents they started out with.

But it’s also true that the marriage rate has collapsed, particularly for working-class Americans. Of those without a high school diploma, more than two-thirds are unmarried.

Wilcox writes that “the American heart is closing,” but I wouldn’t put it that way. I think many Americans want to marry but don’t feel sufficiently financially stable, or they can’t find the right person.

I’m staggered by the interest in virtual boyfriends and virtual girlfriends. One virtual boyfriend app offers an assortment of possibilities such as “polite and intelligent Edward” or “romantic and cute Daniel.”

“Don’t be shy, he’ll definitely like you,” the app advises. “He knows how to cheer you up, so you won’t feel sad or lonely.”

Just reading that makes me achingly sad. Virtual mates feel like an elegy for civilization.

One reason for the decline in marriage in working-class communities may be a lack of economic opportunity, particularly for men, and another may be culture and changing norms. That’s worth pondering. In polls, majorities of college-educated liberals seem diffident about marriage, unwilling to criticize infidelity and disagreeing with the idea that children do better with two married parents. Perhaps this liberal lack of enthusiasm for marriage also accounts for the marriage penalties built into benefit programs like Medicaid, in turn disincentivizing marriage for low-income Americans.

Wilcox scolds elites for clinging to traditional values themselves — in the sense that they get married and have kids for the most part — even as they are reluctant to endorse marriage for fear of seeming judgmental or intolerant. Elites “talk left but walk right,” he says.

We are social animals, Aristotle noted more than two millenniums ago, and it’s still true. Spouses can be exasperating (as my wife can attest), but they also can cuddle, fill us with love and connect us to a purpose beyond ourselves. They are infinitely better, for us and for society, than virtual lovers on an app, and that seems worth celebrating openly.

Update: I have the final figures for my 2023 holiday giving guide , so I owe readers a follow-up and a “thank you.” More than 5,400 readers contributed a total of $7.2 million to the three nonprofits I recommended , and here’s what the donations will mean in practical terms: 12,150 girls in rural Africa will be supported for a year of high school through Camfed ; 1,645 young people in the United States will be supported for a year of instruction and mentoring to succeed in college or technical school through OneGoal ; and 4,218 low-income Americans will get free training in information technology through Per Scholas so that they can start better-paying careers in the tech world. All three organizations do excellent work. In addition, 671 readers volunteered to help refugees settle in the United States through my recommended volunteer opportunity, Welcome.US . Thanks so much to all who donated and volunteered: People are benefiting here and abroad from your generosity.

The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips . And here’s our email: [email protected] .

Follow the New York Times Opinion section on Facebook , Instagram , TikTok , WhatsApp , X and Threads .

Nicholas Kristof became a columnist for The Times Opinion desk in 2001. He has won two Pulitzer Prizes, for his coverage of China and of the genocide in Darfur. @ NickKristof

Money Report

‘Big leap of faith': This couple quit corporate life and turned an arty side hustle into a business

By lucy handley,cnbc • published april 8, 2024 • updated on april 8, 2024 at 1:27 am.

• Omar and Summer Obaid quit their corporate jobs to start e-commerce art business Abstract House in 2016.
• Omar, an artist, creates originals and prints for sale from a west London warehouse, while Summer manages trade clients and marketing.
• The pair expect the company to make around £2 million ($2.5 million) in revenue this year.

Omar Obaid has enjoyed painting and drawing since he was a child.

As an adult, he would wind down from work at the weekend by creating abstract art on canvas, hanging his pieces in the west London home he shares with his wife, Summer. Friends would say, "Where did you get this from? Oh, this is cool," he told CNBC by video call.

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Summer encouraged him to sell them, and they promoted his work via social media. "It was just a side thing," to start with, he said.

Sales took off quickly and around two years later, the couple decided to quit their corporate jobs — Omar worked for The New York Times as an advertising operations executive and Summer was an ad manager for cinema chain Odeon. They hoped to turn their side hustle into a full-time e-commerce art business. They set up their company, Abstract House , in 2016, and made around £125,000 in revenue in their first year.

Working in the art world was something Summer longed for. "I always wanted to have ... an art gallery. I felt like that was like a dream for me. And obviously with Omar with his paintings, it just sort of married up," she said.

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Summer, who managed clients and built relationships in her previous role, oversees trade customers, while Omar, who has a degree in computer science, focuses on making art and managing the website.

Eight years after the launch, they expect the company to make around £2 million ($2.52 million) this year. Including the couple, the business has 10 staff. And in 2020, they moved to a showroom, office and production space in west London where they could produce the artworks, store stock and pack orders for delivery.

Alongside the art — all of which is created by Omar — the firm has a printing and framing service for artists and sells individual frames as well.

Affordable art

Omar's work sells up to £2,250 for an original, framed piece of 150 cm by 90 cm, on the Abstract House website, while small, limited edition framed prints are around £250. Trade commissions start from £4,000.

"We've always tried to focus on providing original affordable art … the mission was about producing quality and making it accessible," Summer said. Originals and prints are made in-house, while prices are kept reasonable because there are no gallery fees or commission to pay.

Abstract House is seeing the cost of goods increase. "As a British manufacturer, one of our major challenges is the cost of raw materials, energy prices and shipping prices which have all risen sharply in the past three years and seem to be on an upward trend," Summer told CNBC by email.

While the business has grown consistently, there have been hurdles, such as work being copied, which she said is a "big challenge" for artists. As for Abstract House, the issue has largely been resolved by asking those selling copycat art to remove it from sale.

Attracting more trade clients — around 40% of their customers are businesses — and expanding overseas are two ways the pair want to grow the business, with Omar having created six large artworks for the Caesars Forum, a conference center close to Caesars Palace hotel in Las Vegas.

Abstract House will also supply 68-story South Quay Plaza — an upscale residential building under development in London's Canary Wharf — with more than 300 pieces of art for its communal areas.

While most of their sales are online, having a showroom is important, the couple said, so they can hold meetings with trade customers and individuals can view the work. "There are loads of people opening ... side hustles online, and we wanted to show people that we are real, we exist," Omar said.

How does their turnover compare with what they were making in their previous lives? "We are healthier than we were when we were in corporate jobs," Summer said. "The flexibility as well, in terms of timings. I can go and pick up our children from school, we'll be at the school gates, that's really important," she added.

"A lot of people tell me when I tell them the story, they say you know you've taken a big leap of faith," Omar said. "I feel like because we do something genuine, that we're really passionate about, [and] with [some] luck, it succeeded."

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• Part scary, part exciting: How artists are using AI in their work

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